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Financial News: German Industrial Output Falls Slightly In April

German Industrial Output Falls Slightly In April

06/07/2024 - 03:30:00 (RTTNews)

(RTTNews) - Germany's industrial production dropped at a slower pace in April, figures from Destatis revealed on Friday.

Industrial output edged down 0.1 percent on a monthly basis in April. This follows a 0.4 percent drop in March. Although the pace of decrease softened from March, this was in contrast to economists' forecast of 0.3 percent gain.

Excluding energy and construction, production in industry moved up 0.2 percent. The production of capital goods and consumer goods gained 0.8 percent each. On the other hand, intermediate goods output dropped 0.9 percent.

Energy production logged a monthly increase of 1.6 percent. Meanwhile, there was a 2.1 percent drop in construction output.

Year-on-year, industrial production registered a decline of 3.9 percent after easing 4.3 percent in March, data showed.

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