Industrial production in Germany fell below expectations
The German Federal Statistical Office (Destatis) has announced provisional industrial production data for October.
As a result, seasonally adjusted and calendar industrial production fell 0.1 percent in October from the previous month. The expectations for industrial production in the markets were for a decrease of 0.6 percent.
Industrial production was unchanged in October compared to the same period a year earlier. Data for September, which was announced as a 0.6 percent monthly increase, was revised as a 1.1 percent increase.
THE DECREASE IN ENERGY-INTENSIVE BUSINESS LINES REACHES 3.6 PERCENT
The data revealed that industrial production, excluding energy and construction, decreased by 0.4% in October compared to September.
In said period, the production of capital goods increased 1.4 percent, while the production of consumer goods decreased 1.9 percent. Excluding industry, a decrease of 7.6 percent was observed in energy production, while construction registered an increase of 4.2 percent.
It should be noted that production in energy-intensive industries decreased by 3.6 percent in October.
Germany’s manufacturing sector has been struggling with low orders in recent months amid a cooling global economy, tight supply and weakening demand. (AA)
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
