German industrial output posted its steepest plunge on record in April as the coronavirus pandemic forced companies in Europe's largest economy to scale back production, data showed on Monday.
BERLIN - German industrial output posted its steepest plunge on record in April as the coronavirus pandemic forced companies in Europe’s largest economy to scale back production, data showed on Monday.
Manufacturers of capital goods recorded the steepest decline of -35.3%. Construction was down 4.1% and output in the energy sector dropped by 7.2%. The data strengthens expectations that the German economy will post its steepest decline since the end of World War Two in the second quarter.
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