Feb 11, 2011
8:30:00 AM
| Last Updated
The latest industrial production (IP) numbers confirm our view that Germany’s economic expansion slowed in Q4, but they fail to paint the full picture of the short-term outlook for German industry.
On February 8, the Federal Ministry of Economics announced that German IP fell by a greater-than-expected 1.5% m/m in December, after a contraction of 0.5% m/m in November. This followed an earlier release that showed new industrial orders plunged 3.4%m/m in December. The most striking component of December’s IP figures was a 24.1% m/m slump in construction sector output, the largest[...]
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