German industrial output tumbles again in October

Berlin: German industrial output took another tumble in October, weighed down by slumping demand in the key construction sector, official data showed.  Industrial production contracted by 2.6 per cent in October compared with September after already falling by 1.3 per cent the previous month, the economy ministry said in a statement.

The drop was bigger than expected. Analysts polled by Dow Jones Newswires had been pencilling in a very modest decline of 0.2 per cent. The sharp decline came as even more as a surprise after the ministry calculated a day earlier that industrial orders notched up their strongest growth in nearly two years in October thanks to surging demand for German-made goods outside the euro area.


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However, the manufacturing orders are far above expectations for Germany. There are other emerging opportunities elsewhere despite Europes slowdown. Volkswagen, Audi, BMW, Schaeffler are looking for bigger footprint in India. Schaeffler is also increasing the investment and hiring more people in Hungary and USA. They have invested in R&D in India to find localized solution for Indian condition. Still, Schaeffler achieved 4.2 revenue growth. Since, the Europe is in slow phase, the lucrative market is elsewhere. Diversifying your market is a good strategy for companies if they can manage it.