German industrial sector suffers 3.4 pct decline in March production - statistics

BERLIN, May 8 (KUNA) -- The German Federal Statistics Office announced Monday a significant and unexpected decline in performance of the industrial sector, the very backbone of Europe's largest economy.

According to the Wiesbaden-based office, production in industry decreased by 3.4 percent in last March compared to preceding February.
This development, stated the office was unexpected as it comes after a period of rejuvenation during months of January and February.
The office did not attribute much significance to the one-month decrease compared to the performance of the first quarter as a whole, however, the German Commerce and Industry Chamber considered this development a significant blow to German economy.
The chamber mentioned that these numbers indicate a recession-threatened economy rather than the sought after stability.
Stability of energy prices is not sufficient to enhance disrupted global economy conditions, nor can it address demands on German industries, expounded the Chamber.
The federal ministry of economy had recently raised economic growth data for this current year from 0.2 percent to 0.4 percent.
The German economy is weathering the toll of Ukraine-Russia crisis as it struggles to ensure reasonably priced energy supply. (end) anj.aai.