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Financial News: Germany Industrial Production Declines In July

Germany Industrial Production Declines In July

09/07/2022 - 02:20:00 (RTTNews)

(RTTNews) - Germany industrial production declined in July, data released by Destatis showed on Wednesday.

Industrial production fell 0.3 percent on a monthly basis, reversing a 0.8 percent rise in June. Output was forecast to decline 0.5 percent.

Excluding energy and construction, industrial output was down 1.0 percent in July.

Declines in production were observed in all main groupings. The production of consumer goods fell 2.4 percent due to the development of non-durable goods production, which went down by 3.0 percent. Capital goods production slid 0.8 percent and intermediate goods production was down 0.6 percent.

Outside industry, energy production advanced 2.8 percent and production in construction gained 1.4 percent.

Year-on-year, industrial production logged a decline of 1.1 percent after easing 0.1 percent in June.

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