Industrial production in Germany, EuropeÃ¢â‚¬â„¢s largest economy, unexpectedly declined in June led by a drop in investment goods such as machinery and trucks.
Production fell 0.6 percent from May, when it rose a revised 2.9 percent, the Economy Ministry in Berlin said today. Economists had forecast a gain of 0.5 percent, the median of 25 estimates in a Bloomberg News survey showed. From a year earlier, production increased 10.9 percent when adjusted for the number of work days.
Economic growth in the euro region, GermanyÃ¢â‚¬â„¢s biggest export market, may weaken as governments cut spending to trim budget deficits and restore investor confidence. At the same time, EuropeÃ¢â‚¬â„¢s sovereign-debt crisis has pushed the euro down 8 percent against the dollar this year, making exports to countries outside the 16-nation currency bloc more competitive.
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