German broadcaster, ARD reports
This will cause a slight hit to Q3 economic activity, so something to be wary about.
Record rainfall in Germany has caused a major catastrophe in the western parts of Germany, with the states of Rhineland-Palatinate and North Rhine-Westphalia most badly affected - in particular the town of Neueunahr-Arhweiler, where more than 1,000 persons are reported to be missing so far.
The heavy flooding has also struck parts of Belgium and the Netherlands as well. Deepest condolences to those affected by the disaster.
