Germany’s influential IFO institute came out with a statement on Thursday, citing that the German industry expects an unprecedented collapse in production.
Its index for industrial production dropped to -51.4 in April, the lowest value since reunification, the IFO reported.
This comes ahead of the March Industrial Production data for Germany, due at 0600 GMT.
- EUR/USD capped by strong resistance lines, has room to fall – Confluence Detector
- German Factory Orders plummet 15.6% MoM in March vs. -10.0% exp
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