German industry output, exports fall in April
German industrial output and exports fell in April, data showed on Friday, adding to signs that Europe’s largest economy started the second quarter on a weak footing, Reuters reports.
Data from the Economy Ministry showed output fell by 1.0 percent, well below a Reuters forecast for a rise of 0.3 percent. Separate data from the Federal Statistics Office showed exports fell by 0.3 percent in April while imports rose 2.2 percent.
On Thursday, data showed industrial orders fell unexpectedly by 2.5 percent.
“The German economy will only make timid headway in the second quarter,” VP Bank chief economist Thomas Gitzel wrote in a note to clients. “Weak industrial orders, weak exports and disappointing industrial production are a bitter setback.”
Industrial output, orders and exports have fallen in three of the first four months of the year. This weakness has so far been mainly linked to long public holidays, cold weather and flu epidemics.