German Industrial Output and Exports Decline Sharply in April
Arslan Butt • 1 min read
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.