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Financial News: Germany's Industrial Output Falls Unexpectedly

Germany's Industrial Output Falls Unexpectedly

04/06/2018 - 02:16:00 (RTTNews)

(RTTNews) - Germany's industrial production declined unexpectedly in February, data from Destatis revealed Friday.

Industrial output dropped 1.6 percent month-on-month in February, in contrast to a revised 0.1 percent rise seen in January. Output was expected to climb 0.3 percent.

On a yearly basis, industrial production grew 2.6 percent in February, much slower than January's 6.3 percent increase. Economists had forecast 4.4 percent expansion for February.

Production in industry excluding energy and construction decreased 2.0 percent.

Within industry, energy production grew 4 percent, while construction dropped 2.2 percent. The production of capital goods slid 3.1 percent and that of consumer goods by 1.5 percent. Similarly, intermediate goods output showed a 0.7 percent fall.

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