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German manufacturing output to shrink by 4% this year - BDI

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By Reuters
German manufacturing output to shrink by 4% this year - BDI
FILE PHOTO: Aerial view of containers at a loading terminal in the port of Hamburg, Germany August 1, 2018. REUTERS/Fabian Bimmer   -   Copyright  Fabian Bimmer(Reuters)
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BERLIN (Reuters) – Germany’s BDI industry association said on Tuesday it expected manufacturing production in Europe’s largest economy to decline by 4% this year, with overall German exports seen only edging up half a percentage point in 2019 due to weaker foreign demand.

“After six consecutive years of growth, Germany’s industrial sector is stuck in recession since the third quarter of 2018,” BDI Managing Director Joachim Lang said in a statement.

(Reporting by Michael Nienaber, editing by Tassilo Hummel)