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.
Source: www.ntv.de
