German industry expects unprecedented collapse in production

Germany’s mighty industrial sector, hit by the coronavirus pandemic, is expecting an unprecedented collapse in production, the Ifo institute said on Thursday, as it announced its index for this hit its lowest level since reunification.

Ifo said its index for industrial output in the coming three months in Europe’s largest economy fell to -51.4 points in April, down from -21.4 points in March. That compared with -42.9 points in December 2008, during the global financial crisis.

Via Reuters