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Financial News: German Industrial Production Unexpectedly Falls In Novembe

German Industrial Production Unexpectedly Falls In November

01/08/2019 - 03:38:00 (RTTNews)

(RTTNews) - Germany's industrial production decreased for a third straight month in November, defying expectations for an increase, amid a sharp fall in consumer goods and energy output, preliminary data from the Federal Statistical Office showed on Tuesday.

Industrial production fell a calendar and seasonally adjusted 1.9 percent from October, when it decreased 0.8 percent, revised from 0.5 percent. Economists had expected a 0.3 percent increase.

Capital goods output fell 1.8 percent and production of intermediate goods shrunk 1 percent. Manufacture of consumer goods fell 4.1 percent.

Energy output decreased 3.1 percent and construction production fell 1.7 percent.

Excluding energy and construction, industrial production decreased 1.8 percent from the previous month.

On a year-on-year basis, industrial production fell 4.7 percent in November after a 0.5 percent gain in October. Economists were looking for a 0.8 percent decline.

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