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Financial News: Germany's Industrial Output Falls More-Than-Forecast

Germany's Industrial Output Falls More-Than-Forecast

06/07/2019 - 02:55:00 (RTTNews)

(RTTNews) - Germany's industrial output declined more-than-expected in April, figures from Destatis revealed Friday.

Industrial output slid 1.9 percent on month, in contrast to a 0.5 percent rise seen in March. Production was forecast to drop marginally by 0.2 percent.

On a yearly basis, manufacturing output decreased 1.8 percent after falling 0.9 percent in the previous month. Economists had forecast a 0.4 percent drop.

The statistical office said industrial production excluding energy and construction declined 2.5 percent in April from the previous month.

Within the industry, intermediate consumption decreased 2.1 percent and consumer goods by 0.8 percent. Capital goods output dropped 3.3 percent month-on-month.

Outside industry, energy production dropped 1.1 percent from the previous month, while construction output grew 0.2 percent.

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