The German economy could have continued to shrink over the summer as industrial ...
FRANKFURT - The German economy could have continued to shrink over the summer as industrial production drops amid a dearth of orders, the Bundesbank said on Monday, suggesting that the euro zone’s biggest economy is now in a recession.
German growth contracted in the second quarter on slumping exports as a global trade war, China’s own slowdown and Brexit uncertainty sapped confidence, dealing a blow to an export-focused economy. “The main reason for this is the continuing downturn in industry,” the central bank said, pointing to a significant decline in orders and a big drop in sentiment indicators for manufacturing firms.
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