Germany’s manufacturing continues to suffer from global trade conflicts and disruption in the auto sector as industrial output dropped 1.7% on the month against expectations for a 0.1% rise
BERLIN - Germany’s industrial output unexpectedly dropped in October, reviving worries about its economic growth outlook as its manufacturing backbone takes a blow from global trade conflicts and disruptions in the auto sector.
“Now the trepidation starts again about GDP growth in the final quarter,” said Jens-Oliver Niklasch, economist at Landesbank Baden-Wuerttemberg. The economy grew by just 0.1% in the third quarter, narrowly avoiding recession, which economists usually define as two consecutive quarters of negative growth.
Many economists have been urging the government to ditch its policy of incurring no new net debt, saying it should instead borrow to finance a stimulus package.
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