German Industry Slumped in March on Outbreak of Iran War — 2nd Update

German industrial production fell 0.7% in March due to rising energy prices from the Iran conflict, marking a setback for the country's manufacturing recovery. The decline follows a 0.5% drop in February, with a year-on-year decrease of 2.8%. The BDI industrial association warns of stagnation for German industry this year, while car sales slowed significantly in April. Despite a rise in factory orders, the outlook remains bleak as energy prices soar and supply-chain disruptions loom. The European Central Bank may raise interest rates, further impacting industrial firms.