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Financial News: German April Industrial Production Grows Less Than Expecte

German April Industrial Production Grows Less Than Expected

06/08/2022 - 02:34:00 (RTTNews)

(RTTNews) - Germany's industrial production grew less than expected in April, preliminary figures from the statistical office Destatis showed Wednesday.

Industrial production rose a price, seasonally and calendar adjusted 0.7 percent from March, when output fell a 3.7 percent, which was revised from 3.9 percent. Economists had forecast 1.0 percent growth.

Capital goods output grew 0.9 percent and the production of intermediate goods rose 0.4 percent. Manufacture of consumer goods fell 1.3 percent.

Production in industry excluding energy and construction grew 0.3 percent from the previous month.

Energy production rose 16.1 percent month-on-month, after a revised 11 percent slump in March.

The statistical office attributed the high rates of change to fluctuations in energy production from wind power.

Construction output declined 2.1 percent from the previous month.

On a year-on-year basis, production decreased 2.2 percent in April after a 3.1 percent slump in the previous month.

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