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Germany Industrial Production Slumps

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A fear arising this week from the European Central Bank's (ECB) rate statement, and concurrent speculation over an Italian default, has been that regional growth is becoming stagnant. Today's industrial production figures out of Germany appear to confirm this view.

The agency Destatis released its report on German Industrial Production Friday at 11:00 GMT revealing a 1.1% contraction in the industrial sector of the German economy. Economists had forecast a meager 0.1% growth, anticipating a slow-down. But today's contraction signals a far worse scenario than some had anticipated. The value of the regional currency, the EUR, appears hit by the news as it enters a price slump ahead of the week's closing.

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


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

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