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German output slumps as economic growth slows
German industrial production slumped in December as Europe's biggest economy slowed in the run-up to the end of last year, data released Tuesday showed. The Ministry of Economics said output dropped by a bigger-than-forecast 2.9 per cent in December, after stagnating in November. Analysts had expected the ministry to say production also stagnated in December, following expectations that the country's economy ran out of momentum in the final quarter, as the debt crisis undercut economic growth across Europe. The German statistics office said last month that it expected data later this month to show the nation's ... (full story)
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