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German industrial output, exports fall in June

Germany's industrial output falls 1.4% and exports from Europe's top economy drop 1%, figures showGermany’s industrial output fell 1.4 percent and exports from Europe’s top economy dropped by one percent in June from the previous month, data showed Friday. Many German companies are struggling with China’s slowdown and recent volatility over the Greece crisis, despite the benefits of a low euro, cheap oil and rock-bottom interest rates. “Overall, today’s data is a setback for the German economy and bodes ill for second-quarter real GDP growth,” said Natixis bank, which revised down slightly its forecast to 0.4 percent GDP growth quarter-on-quarter.

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