Friday, February 6, 2009

German Production Down Most Since 1960's

Not even when the Berlin Wall fell and Germany had to deal with the combination of East and West Germany has production fallen this fast. Per Bloomberg:

Industrial production in Germany, Europe’s largest economy, dropped the most in at least 18 years in December as demand for plant and machinery faltered.

Output fell a seasonally adjusted 4.6 percent from November, the biggest decline since records for a reunified Germany began in January 1991, the Economy Ministry in Berlin said today. It was the fourth straight monthly drop and almost twice the 2.5 percent retreat forecast by economists in a Bloomberg survey.