Industrial output in the Eurozone dropped in April by 0.5%, with car production leading the negative trend and manufacturing output seeing a steady decline since the last half of 2018 when production in the automobile industry fell by 14%.

Italy’s production dropped by 17% and British car producers initiated annual factory shutdowns earlier than expected in an effort to minimise their losses in the event of a no-deal Brexit.

The German government admitted that global trade tension is growing, ...