Tuesday 19 November 2019

German economy stutters as exports plunge

Some economists felt the fall in oil prices could provide a boost for Germany's powerful exporters
Some economists felt the fall in oil prices could provide a boost for Germany's powerful exporters

Michelle Martin

German exports fell sharply in November and industrial output declined, suggesting Europe's largest economy ended 2014 on a weak note.

The slowdown in the Eurozone anchor both reflected and further fed weakness across the currency bloc, which is still struggling to emerge from a long-running economic crisis.

Some economists felt the fall in oil prices could provide a boost for Germany's powerful exporters, while a weakening the euro could help companies selling beyond Europe.

But seasonally-adjusted exports dropped for a second consecutive month in November by a bigger-than-expected 2.1pc.

Industrial output decreased by 0.1pc as construction activity weakened and energy production fell. That was weaker than a consensus forecast for a 0.4pc increase.

Irish Independent

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