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May 10, 2014
German industrial production drops in March
Associated Press | May 8, 2014 4:00 AM CDT
in
Money
BERLIN (AP) — German industrial production dropped 0.5 percent in March, a retreat that has raised some concerns over the outlook for Europe’s largest economy in light of the tensions in Ukraine and a slowdown in China.
The Economy Ministry said Thursday the March drop followed upwardly-revised 0.6 percent growth in February.
The decline was in line with expectations, and ING economist Carsten Brzeski says they are no cause for short-term worry.
But Brzeski cautioned that following weak industrial orders data, the figures are a “clear shot across the bow for the German economy.”
He says they indicate the Ukraine conflict and the Chinese slowdown could have a bigger impact on the Germany economy than thought, and that the recovery across the 18-country eurozone is not yet strong enough to support German industry.
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