In­dus­trial pro­duc­tion drops in Ger­many

Greenwich Time - - BUSINESS -

Of­fi­cial fig­ures show that fac­tory pro­duc­tion in Ger­many de­clined in Oc­to­ber in an­other sign that Europe’s largest econ­omy may be slow­ing. The Econ­omy Min­istry said Fri­day that in­dus­trial pro­duc­tion dropped 0.5 per­cent in Oc­to­ber over Septem­ber af­ter ad­just­ing for sea­sonal and cal­en­dar fac­tors. The drop erased mod­est gains made in the last two months. De­spite the de­cline, ING econ­o­mist Carsten Brzeski says the lat­est fig­ures still “sup­port mod­est op­ti­mism,” not­ing that “Ger­man in­dus­try has at least not lost more mo­men­tum but in­stead is tread­ing wa­ter.” The Ger­man econ­omy shrank by 0.2 per­cent in the third quar­ter com­pared with the pre­vi­ous three-month pe­riod.

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