Financial News: German Industrial Output Drops In September

German Industrial Output Drops In September

11/07/2023 - 03:33:00 (RTTNews)

(RTTNews) - Germany's industrial production declined at a faster pace in September, data published by Destatis revealed on Tuesday.

Industrial output registered a monthly fall of 1.4 percent, faster than the revised 0.1 percent drop in August. This was the fourth consecutive decline.

Economists were expecting output to drop 0.1 percent after August's initially estimated decrease of 0.2 percent.

Industrial production, excluding energy and construction, was down 1.7 percent from August.

The production of capital goods decreased 0.2 percent and that of intermediate goods fell 1.9 percent. Consumer goods output slid 4.9 percent.

Data showed that energy production was down 1.7 percent in September, while construction output remained unchanged.

On a yearly basis, industrial production registered a 3.7 percent fall in September.

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