German Industrial Output Falls Sharply | Business| Economy and finance news from a German perspective | DW | 09.12.2002
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German Industrial Output Falls Sharply

Industrial output in Germany for the month of October has fallen sharply, according to figures released by the Federal Labor Ministry in Berlin. They show that industrial output fell by 2.1 percent compared to September. Ministry officials said part of the contraction was due to the high number of public holidays in October. "Calender effects pulled the output figure downward," the ministry said in a statement. Analysts say the news suggests there will be zero growth in the fourth quarter and that the economy could also contract in the first quarter next year.