German industry cuts production unexpectedly sharply
The export-dependent industry alone produced 1.7% less in September than in the previous month. Energy production also fell by 1.7%. Construction output remained unchanged compared to the previous month. The construction industry is struggling with rising interest costs, which are making private and professional investors cautious.
The German economy is threatened by a new recession after shrinking by 0.1% in the summer quarter. For the current fourth quarter, many experts expect another minus.
The impending recession could lead to further cuts in German industry's production, as companies try to minimize costs during tough economic times. The sharp decline in production across several sectors, including industry and energy, is a concerning sign of the potential deepening recession.
Source: www.ntv.de
