German Industrial Output and Exports Decline Sharply in April

Germany experienced a severe drop in industrial output as well as exports during the month of April.


According to data released by the Statistics Office, Germany experienced a severe drop in industrial output as well as exports during the month of April. The data comes a day after ECB’s statements expressing concern about growth slowing down in Eurozone economies, and reaffirms the central bank’s dovish outlook.

German industrial output fell to 1.9% in April, the sharpest fall since August 2015, beating economist expectations for a 0.4% decline. Exports from Germany also declined to 3.7% in April, the biggest decline since August 2015.

German economic growth in Q1 2019 was a mere 0.4%, after a narrow miss at recession during Q4 2018. The Bundesbank has downgraded its growth forecast for 2019 to 0.6%, from a recent high of 1.6% during December 2018.

Ongoing trade tensions between US and China as well as uncertainties around Brexit have weighed heavily on German manufacturing.

ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

Related Articles

Comments

0 0 votes
Article Rating
Subscribe
Notify of
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

HFM

Doo Prime

XM

Best Forex Brokers