Grim future projected for EU’s top economy   ...News

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Grim future projected for EU’s top economy  
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Germany risks facing a prolonged recession, economists have warned   German industrial production unexpectedly fell in May, raising fears of a prolonged downturn in the EU's top economy, data from the federal statistics agency Destatis showed on Friday. Output slipped by 0.2% compared to the previous month, as a 13% drop in pharmaceuticals outweighed increased vehicle production. Chief economist at ING, Carsten Brzeski, warned the latest data indicated that "German industry is still stuck in stagnation." He pointed to a "toxic combination" of poor outlook, a lack of orders and the need to build up inventories fur

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