German industrial production drops again in June
Europe's biggest economy headed for recession in current quarter
06 September, 15:14Germany's economy contracted 0.1% in the April-June period.
It is considered likely to shrink again in the third quarter, placing it in a technical recession, and business confidence recently hit a nearly seven-year low. UniCredit bank economist Andreas Rees argues the extent of pessimism is "an exaggeration" and said "the story is not one of outright collapse in the German industrial sector but of negative spillover effects from manufacturing to internal demand." (ANSA-AP).