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German Industrial Output Declined More Than Forecast in April
German industrial output fell more than economists forecast in April, adding to signs that growth in Europe’s largest economy is slowing as the sovereign debt crisis curbs demand. Production declined 2.2 percent from March, when it rose a revised 2.2 percent, the Economy Ministry in Berlin said today. Economists forecast a drop of 1 percent, the median of 37 estimates in a Bloomberg News survey shows. In the year, production fell 0.7 percent when adjusted for working days. “The growing momentum in the euro-area crisis is hurting confidence,” said Aline Schuiling, an economist at ABN Amro Bank NV in Amsterdam. ... (full story)
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