German industrial production fell back to 2005 levels in August as output in the country’s all-important car industry cratered by 18.5 per cent compared with the previous month
Overall, industrial production fell 4.3 per cent in August compared with the previous month, seasonally adjusted data showed on Wednesday. Economists had predicted a smaller drop of 1 per cent in a Reuters poll.
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German cars are unreliable and expensive. They are also behind on innovation. For some reason, people still associate them with luxury, but that’s about the only thing going for them.