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German Industrial Output Dips Again in July; Recession Worries Loom

According to data from the Statistics Office, Germany’s industrial output declined by 0.6% in July, increasing concerns about the health of the German as well as the Eurozone economy. Economists were expecting industrial output to grow by 0.3% for the month after a 1.1% decline seen in June.

Germany is Eurozone’s largest economy and manufacturing is one of the most important sectors that contributes to the German GDP. A recession in the industrial sector could potentially push the overall economy into a state of recession in Q3 2019.

Global trade tensions and Brexit uncertainties have been exerting significant downward pressure on German industries. The decline in industrial output was fueled by weaker demand from overseas.

Following the release of this news, EUR/USD is trading mostly unaffected so far, at around 1.104.

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Arslan Butt
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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.
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