Europe's economic troubles deepened with the "surprise" October drop of German industrial output. The only thing of dispute is the size of the drop. Three different sources report three different numbers, ranging from -1.2% to -2.8%. Forecasts for the German economy are negative for Q4. This would make for three consecutive quarters of economic contraction in Germany.
The German drop is in line with the drops in Italy and Greece.
Wednesday, December 12, 2012
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