German industry cuts production unexpectedly sharply in September
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 in Germany is causing uncertainty in various sectors, with the industry leading the way by dramatically reducing production in September. This unexpectedly sharp cut in production could signal troubling times for the German economy. With the recession looming, many industries, including the German one, may face challenging production periods ahead.
Source: www.ntv.de
