tea drinker
07-08-2009, 06:01 PM
http://www.finfacts.ie/irishfinancenews/article_1017122.shtml
German industrial output surged the most in 16 years in May, in a signal of recovery in the Eurozone's biggest economy.
Production rose 3.7% in May from April, when it dropped 2.6 percent, the Economy Ministry in Berlin announced today. the rise was the biggest gain since August 1993, when it rose 4.1% according to Bundesbank data. From a year earlier, output fell 17.9% when adjusted for the number of work days.
On Monday it was reported that manufacturing orders rose the most in almost two years in May, while business confidence increased for a third month in June.
The German government has forecast that GDP (gross domestic product) will shrink by 6% in 2009, the most since World War II.
The fall in industrial production in April was worse than an initially reported 1.9 percent decline the ministry said.
Well, at least there is some good news there. Supposedly some of the growth here is due to loosening of credit in Germany.
German industrial output surged the most in 16 years in May, in a signal of recovery in the Eurozone's biggest economy.
Production rose 3.7% in May from April, when it dropped 2.6 percent, the Economy Ministry in Berlin announced today. the rise was the biggest gain since August 1993, when it rose 4.1% according to Bundesbank data. From a year earlier, output fell 17.9% when adjusted for the number of work days.
On Monday it was reported that manufacturing orders rose the most in almost two years in May, while business confidence increased for a third month in June.
The German government has forecast that GDP (gross domestic product) will shrink by 6% in 2009, the most since World War II.
The fall in industrial production in April was worse than an initially reported 1.9 percent decline the ministry said.
Well, at least there is some good news there. Supposedly some of the growth here is due to loosening of credit in Germany.