0
German industrial output posted its steepest plunge on record in April as the coronavirus pandemic forced companies in Europe’s largest economy to scale back production, Reuters reports.
“The low point has been reached. With the gradual easing of protective measures and the resumption of production in the automotive industry, the economic recovery is beginning now,” the German economy ministry added.
The data strengthens expectations that the German economy will post its steepest decline since the end of World War Two in the second quarter.
