🇩🇪  Industrial production in Germany unexpectedly fell by 2.5% in May compared to the previous month — this is another sign that the recovery of the EU’s largest economy has stalled, Bloomberg stated

▪️5% — the most powerful drop in the sectors of production of automobiles, machinery and electrical equipment

▪Industry is the weakest point in Germany’s economic recovery. High interest rates and weak external demand were particularly painful for export-oriented companies, as the Ifo Institute’s business climate index fell in June, shocking analysts

According to the Central Bank of Germany, the German economy will grow by no more than 0.3% this year, mainly due to services and private consumption, Bloomberg emphasizes

@crystal_book