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German Production Drops
World Economy

German Production Drops

German industrial production unexpectedly decreased in June, highlighting the risks for Europe’s largest economy from weaker growth in emerging-market countries such as China, Yahoo reported. Output, adjusted for seasonal swings and inflation, fell 1.4% after rising a revised 0.2% in May, data from the Economy Ministry in Berlin showed on Friday. The typically volatile number compares with a median estimate of a 0.3% gain in a Bloomberg survey. Exports fell 1% while imports dropped 0.5%. Some manufacturers, although benefiting from cheap oil, low interest rates and a recovering euro area, have faced a drag in recent months as a result of Greece’s crisis and a slowdown in China.

 

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