Reported 6 months ago
German industrial output unexpectedly dropped for a second consecutive month in April, suggesting a slow beginning to the quarter for Europe's largest economy. The 0.1% decrease in production follows a 0.4% decline the previous month, contrary to analysts' expectations of an increase. This decline comes after a report showing factory orders also unexpectedly fell by 0.2% in April. Despite an initial expansion at the beginning of 2024, Germany's economy is predicted to gradually rebound this year, with manufacturing showing slow improvement alongside growth in consumption and services. The Bundesbank forecasts a slight increase in economic output in the second quarter, supported by lower interest rates set by the European Central Bank.
Source: YAHOO