Industrial production in Germany fell by roughly 18% in April compared to last month as per official data released on 8 June.
- In March, industrial production fell by 8.9% when Germany began with coronavirus induced shutdowns, followed by a 17.9% drop in April
- Industrial output was down by 25.3% compared to April 2019
- Manufacturers of capital goods recorded steepest fall of 35.3% while intermediate goods and capital goods dropped by 13.8% and 8.7% respectively
- Auto industry witnessed a contraction of 74.6% while construction fell just 4.1%
Germany is planning on stimulus measures worth 130 billion euros that shall comprise tax breaks and subsidies to buy electric vehicles.
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