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Financial News: German Industrial Production In Surprise Rebound In August

German Industrial Production In Surprise Rebound In August

10/08/2019 - 03:21:00 (RTTNews)

(RTTNews) - Germany's industrial production rose unexpectedly in August, after a slump in July, figures from the Federal Statistical Office showed on Tuesday.

Production grew 0.3 percent month-on-month in August, defying expectations for a 0.2 percent fall.

July's decline was revised to 0.4 percent from 0.6 percent.

However, industrial production decreased 4 percent year-on-year after a 3.9 percent fall in July.

Excluding energy and construction, industrial production rose 0.7 percent in August.

Energy production shrunk 1.7 percent and construction output decreased 1.5 percent.

Among industrial groups, production of intermediate goods grew 1 percent and that of capital goods rose 1.1 percent. Consumer goods output decreased 1 percent.

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