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Trump fees burden industrial production in Germany

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Once again, industrial production in Germany recorded a decline last April compared to the previous month.

The Federal Statistics Office in Wiesbaden announced on Friday that production in manufacturing companies fell by 1.4 percent last April on a monthly basis.

Last March, the expected effects of American customs decisions announced production to rise, yet production growth in March was weaker than previously announced, as the Federal Statistics Office modified the increase to only 2.3 percent instead of the previous 3 percent.

Although analysts expected poor production last April, they expected a decrease of only 1 percent on average.

The Statistics Office also reported a slowdown on an annual basis, as production decreased by 1.8 percent in April.

According to the data, the sharp decrease in the production of medicines also contributed to this negative development, as production in this sector decreased by 17.7 percent on a monthly basis, despite the record of a very strong increase last March.

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