What happens when the factories that are powering Europe’s biggest economy start shrinking? When an export-based economy stops exporting? The continent’s manufacturing engine is now facing both as Germany’s industrial output is shrinking. After years of near-constant expansion, the country’s core industries are now caught in a structural slowdown that feels different from the usual cyclical dip. The numbers show a pattern that concerns both investors and policymakers. Germany’s industry is shrinking. Industrial production in August fell by 4.3% from the previous month, one of the steepest drops since the pandemic. It ... (full story)