Markets disappointed byGerman industry. In October, at Germany, production fell by 1,2% compared to September, suffering the second consecutive monthly decline. The result is much lower than analysts' estimates, which had forecast a positive change of 0,8%. As for the figure on an annual basis, German industrial production recorded a growth of 1%.
On the front commercial, Germany recorded a surplus of 16,8 billion in October, down from 18,3 billion in September. Exports, however, based on seasonally adjusted data, rose by 0,2% on the month and 0,6% on the year, while imports rose by 2,9% on the month and fell by 1,6 % on year. German imports stood at 76,1 billion in October, while exports reached 92,9 billion.
Meanwhile, the president of the Bundesbank, Jens Weidmann, in an interview published on Sunday in Il Sole 24 Ore criticized the program of the future "grand coalition" government in Germany, which weakens the sustainability of the pension system and reduces the flexibility of the labor market.
