Bad news came from the house of the German economy, according to data published on Friday, industrial production and foreign trade are also weak – writes Portfolio.
In the second quarter, due to the steep decline in investment and semi-finished goods production, German industrial production fell by 1.9 percent on a monthly basis in April instead of seasonally adjusted.
IN THE FIRST FOUR MONTHS, INDUSTRIAL PRODUCTION WAS AT 1.8 MONTHS IN GERMANY.
At the same time, exports broke down by 3.7 percent on a monthly basis in April, the largest fall since August 2015. In addition to the sharp drop in exports, imports also fell by 1.3 percent.
On this basis, the rapid analysis of ING Bank has made the start of the second quarter of the German economy terribly weak. According to them, the April interruption of exports could have played the role of brexit’s first date on March 29th, and before that, an intense stockpiling on the British side seemed to be due to the fear of no-deal bruxitis, but then in April the British could drop exports.
Deutsche Bundesbank said on Friday that the MTI reported that it had severely restrained the German economy’s forecast for growth this year. According to DB, the industrial sector will be affected by weak demand throughout the year.
BY TIME OF 0.6 YEARS IN THE TIME, THE GERMAN COUNTRY PRODUCTS (GDP) ARE INCREASED IN THE PERIOD OF GOODWORTH BY 1.6 MONTHS EXPECTED IN DECEMBER.
The Bundesbank’s estimate for next year’s economic growth was down from 1.6% to 1.2%. In April, the International Monetary Fund (IMF) calculated 0.8 percent this year’s German economic growth, after 1.3 percent in January and 1.9 percent in October last year.