industrialproduction
German conglomerate Thyssenkrupp, which specialises in industrial engineering and steel production, reported downbeat financial results on Wednesday. For the second time in three months, the firm cut its annual forecasts for sales and net profit, citing lower demand and prices at its Materials Services and Steel Europe divisions. Thyssenkrupp now expects net income to be a negative figure in the low three-digit million euro range, a downgrade from its previous forecast, which suggested it would break-even. The firm added that "geopolitical and trade conflicts" were contributing to the "difficu...
Euronews (English)
German industrial production increased for the second consecutive month in February, according to data released by the country's official statistics agency on Monday. Compared with January, industrial output increased by 2.1%, the most dramatic monthly rise seen since January 2023. The figure is far more positive than expected, with Reuters analysts having predicted a 0.3% rise. Annual production, however, is still down 4.9%. The driving force behind the monthly increase was a 7.9% jump in the construction sector, as building projects benefited from milder weather. Carmaking output also rose b...
Euronews (English)
Germany’s factory orders were up 0.2% in February, a monthly increase that fell short of experts’ forecasts. A Reuters poll of analysts had estimated an increase of 0.8%, whilst Bloomberg had predicted a jump of 0.7%. According to Germany's official statistics agency, this marginal uptick was driven by increased demand in the machinery and equipment sector (+10.7% on the previous month), and more orders within the chemical (+3.1%) and pharmaceutical (+6.6%) industries. Experts slash economic growth forecast for 'ailing' Germany February’s growth figure comes after a dramatic monthly fall of -1...
Euronews (English)
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