Germany got some terrible economic news

German industrial production figures were unexpectedly poor on Friday.

Production fell 1.1% month-on-month in September, against analysts expectations of a 0.5% rise. The figures measure the output of German factories and mines.

Here's the chart for industrial production this year. It's hardly what you'd want from the powerhouse economy of Europe:

FXStreet

Germany's export industry has been hit hard by the slowdown in China and other developing markets this year. German factory orders dropped sharply in September, falling for the third straight month, in data released on Thursday.