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Germany factory output unexpectedly falls a?? its 'industrial recession may be getting worse'

Germany factory output unexpectedly falls a?? its 'industrial recession may be getting worse'
Reuters



Germany's factory recession looks like it's getting worse as output fell 1.7% in October according to official data.




That follows a 0.6% drop in September.




The fall means that output in the last year has fallen 5.7% since October 2018 which is "the steepest year-on-year decline since 2009."




Capital Economics economist Andre Kenningham said for Germany, the weakness industry "may be getting worse," and that in the coming quarters a "recession is still more likely than not."




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Germany's factory recession looks like it's getting worse as output fell 1.7% in October, according to official data. That follows a 0.6% drop in September.
According to Capital Economics, the fall means that output in the last year has fallen 5.7% since October 2018 — which it says is "the steepest year-on-year decline since 2009."
"The sharp decline in production in October suggests that, far from bottoming out, Germany's industrial recession may be getting worse," said Andrew Kenningham, chief Europe economist at Capital Economics, in an email to clients.
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