Stagnating industry a blow to German recovery hopes
- Published: 9 Mar 2013 at 00.49
- Online news: World
Following an unexpected drop in factory orders, news that German industrial output stagnated in January dealt another blow to hopes for a strong recovery in Europe's biggest economy, analysts said Friday.
A worker welds steel tube on the floor of the HKM (Huettenwerke Krupp Mannesmann) steel plant in Duisburg on February 16, 2011. Following an unexpected drop in factory orders, news that German industrial output stagnated in January dealt another blow to hopes for a strong recovery in Europe's biggest economy, analysts said.
A day after data revealed that shrinking exports led to a 1.9-percent contraction in incoming orders for German industry in January, the economy ministry calculated that industrial output did not grow at all that month due to falling activity in the manufacturing and energy sectors.
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