22:00, 06-Apr-2018
German Industrial Output: Industrial output slumps as protectionism angst grows
[]
Share
Copied
Data from the German Economy Ministry shows that the country's industrial output fell by 1.6 percent in February. The drop was the biggest in more than two years. Analysts say the sector is losing momentum.
The Economy Ministry blames the drop on factories in Europe's largest economy throttling back in the face of rising threat of protectionism. Meanwhile, German business confidence also deteriorated for a second straight month in March, dropping to its lowest level in nearly a year.
The DIHK Chambers of Commerce and Industry said that escalation of a dispute between China and the United States over import duties could harm the global economy and weaken demand for German goods and services.