Recession Fears are growing in Germany as Industrial Production Declines

  • Berlin, Federal Republic of Germany
  • 9 May 2023
1

German industrial production declined more than expected in March due to a significant decline in the auto industry, deepening fears that Europe's largest economy could face a severe recession.

Figures published by the federal statistics agency "Distatis" showed that production decreased by 3.4 percent from the previous month. This comes after two months of strong growth in January and February when the numbers were 1 percent less than what analysts had expected for financial data firm “Factset”.

Source (Alkhaleej Emirate Newspaper, Edited)

Related News

Get an annual subscription in Al-Omran Al-Arabi Magazine

SUBSCRIBE NOW