Germany underlined its status as ‘the sick man of Europe’ as its once-mighty industrial sector suffered another slump.
In a report that stoked fears that Europe’s biggest economy is on course for another quarter of decline, official figures showed production fell 2.4 per cent in August.
Sinking feeling: Official figures showed production fell 2.4 per cent in August
That was far worse than the 0.3 per cent expected by economists and cast a further shadow over the eurozone as a whole.
Carsten Brzeski at Dutch banking group ING said the data was ‘a cold shower for everyone hoping for a speedy recovery’.
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