Germany's industrial output experienced its biggest decline in nearly a year, marking an unexpected setback in the recovery of Europe's largest economy. According to data released by the German Federal Statistical Office on Monday, industrial output fell 1.1% in July, and economists had expected a 0.2% increase. The initial value of industrial output increased slightly in June, but has now been revised to zero growth. The decline in data is mainly due to a decrease in production in the automotive industry. The report reveals the ups and downs Germany has experienced in trying to get out of years of economic downturn. However, after a series of recent favorable data, Bundesbank Governor Joachim Nagel said last week that the economy may expand by 1% this year, double the rate expected three months ago.

Germany's industrial output experienced its biggest decline in nearly a year, marking an unexpected setback in the recovery of Europe's largest economy. According to data released by the German Federal Statistical Office on Monday, industrial output fell 1.1% in July, and economists had expected a 0.2% increase. The initial value of industrial output increased slightly in June, but has now been revised to zero growth. The decline in data is mainly due to a decrease in production in the automotive industry. The report reveals the ups and downs Germany has experienced in trying to get out of years of economic downturn. However, after a series of recent favorable data, Bundesbank Governor Joachim Nagel said last week that the economy may expand by 1% this year, double the rate expected three months ago.