BERLIN (Reuters) – German industrial output will likely tumble in the coming three months, the Ifo institute said on Tuesday as its index for production expectations saw its biggest drop since the survey was first conducted in 1991.
Ifo said that the index dropped to -20.8 points in March from 2.0 and Ifo economist Klaus Wohlrabe said: “We are assuming that this development is still somewhat underestimated, as most of the answers were received by mid-March.”
The German statistics office is due to publish industrial output data for February at 0600 GMT.
(Reporting by Michelle Martin; Editing by Madeline Chambers)
