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So, Germany Just Reported The Biggest Plunge In Industrial Output In A Decade
Given the weaker-than-expected read on October factory orders that landed with a resounding thud earlier this week, it comes as no surprise that industrial production numbers out of Germany were dour on Friday.
What is somewhat surprising, though, is just how dour.
Output slumped 5.3% YoY in October. That, folks, is the worst print in a decade. Try sugar coating this:
Intermediate goods production rose 1.0%, while capital goods production dropped 4.4% MoM. Construction output fell 2.8%.
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