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Financial News: Germany Industrial Production Declines More Than Expected

Germany Industrial Production Declines More Than Expected

05/06/2022 - 02:22:00 (RTTNews)

(RTTNews) - Germany's industrial production declined more than expected in March, data released by Destatis showed on Friday.

Industrial output was down 3.9 percent month-on-month in March, much bigger than the economists' forecast of -1.0 percent and reversed February's revised 0.1 percent rise.

Excluding energy and construction, industrial production decreased 4.6 percent in March. Within industry, the production of capital goods declined 6.6 percent. The production of intermediate goods and that of consumer goods dropped 3.8 percent and 1.5 percent, respectively.

Year-on-year, industrial production logged a decline of 3.5 percent after rising 3.1 percent in February.

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