Germany's industrial production fell 1.9% in June, the lowest level since May 2020, amid weak external demand and competition from China.

Germany's industrial production fell by 1.9% in June, marking the lowest since May 2020, due to weak external demand and increased competition from China. Industrial orders also fell 1% for the second consecutive month. Exports rose 0.8%, but shipments to the US fell 2.1%. The trade balance had a surplus of €14.9 billion, down from the previous month. German lawmakers propose a fund to boost the economy by investing in infrastructure and defense.