Germany's Industrial Production Drops Sharply
Automotive sector dropped 18.5% due to plant closures and changeovers.
Machinery and pharmaceutical sectors declined 6.2% and 10.3% respectively.
Industrial production (excluding energy/construction) fell 5.6% month-on-month.
Germany's manufacturing PMI slipped to 49.5, indicating contraction.
Experts warn of recession risks linked to U.S. frontloading decline.
Industrial orders fell for a fourth straight month in August.
4 weeks ago