Weekly Cryptonews
The first part of the week was more than optimistic for Bitcoin. However, now it is going through the correction phase.
German industrial output is suppressed by holiday in October
In October, German industrial output edged down suddenly, as data disclosed on Thursday. Most probably it was caused by public holidays, which let employees take long weekends, as the Economy Ministry and analysts informed.
Industrial output went down by 1.4% having dipped by an updated 0.9% in September. The two successive sags arose after a leapt of 2.6% in August, which is the biggest rally in more than six years.
Europe's number one economy is definitely firing on all cylinders now. State spending, consumption and soaring exports are driving surge in both services and industry.
Underpinned by low interest rates as well as a firm labor market, the German economy is weathering a political impasse coming from Chancellor Angela Merkel's inability to form a government since September’s election.
Next week Angela Merkel is supposed to start negotiations with the center-left Social Democrats on modifying their coalition that has ruled Germany since 2013.
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