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German industrial production slumps in August
http://www.dw.com/en/german-industrial-production-slumps-in-august/a-18765512German industrial production fell massively in August, official data show. Coupled with falling factory orders for the month, the development contributes to fears that the EU's largest economy might be losing steam.
German industrial production slumps in August
07.10.2015
Following an increase in July, industrial production in Germany reported a significant drop of 1.2 percent in the month of August, official data released by the Economy Ministry in Berlin showed Wednesday.
The decline was led by a 2.1 percent drop in production of investment goods such as machinery, the ministry said in a statement, adding that "unfavorable configuration" of vacation time contributed to the fall.
The August production figure fell short of analysts' expectations, who had predicted a slight increase by 0.2 percent in a consensus forecast by news agency Reuters.
Carsten Brzeski, economist with Dutch bank ING said German industry was currently "lacking momentum."
