DAX Slips On Growth Worries

(RTTNews) - German stocks fell on Wednesday amid growth worries after preliminary figures showed Germany's industrial production grew less than expected in April.

Industrial production rose a price, seasonally and calendar adjusted 0.7 percent from March, when output fell a 3.7 percent, which was revised from 3.9 percent, Destatis said. Economists had forecast 1.0 percent growth.

On a year-on-year basis, production decreased 2.2 percent in April after a 3.1 percent slump in the previous month.

The benchmark DAX dropped 0.3 percent to 14,514 after losing 0.7 percent the previous day.

Banks traded lower, with Deutsche Bank falling nearly 2 percent after Swiss lender Credit Suisse warned of a likely group-wide second-quarter loss, citing "challenging" market conditions.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.