German industrial production declined more than expected in March due to a significant decline in the auto industry, deepening fears that Europe's largest economy could face a severe recession.
Figures published by the federal statistics agency "Distatis" showed that production decreased by 3.4 percent from the previous month. This comes after two months of strong growth in January and February when the numbers were 1 percent less than what analysts had expected for financial data firm “Factset”.
Source (Alkhaleej Emirate Newspaper, Edited)
