FOREX TradingCharts.com

Financial News: Germany Industrial Production Declines Most In 6 Months

Germany Industrial Production Declines Most In 6 Months

12/06/2019 - 06:41:00 (RTTNews)

(RTTNews) - Germany's industrial production declined at the fastest pace in six months in October, led by a sharp decrease in capital goods output in October, data from Destatis revealed on Friday.

Industrial production decreased 1.7 percent on a monthly basis in October, much bigger than the 0.6 percent fall logged in September.

Output decreased at the fastest pace in six months, while economists had forecast a 0.1 percent growth.

On a yearly basis, industrial output declined 5.3 percent, following a revised 4.5 percent decrease in September. Production was expected to decline moderately by 3.6 percent in October.

Excluding energy and construction, production was down by 1.7 percent. Energy output advanced 2.3 percent, while construction output decreased 2.8 percent.

Production of intermediate goods increased 1.0 percent and that of consumer goods gained 0.3 percent. Meanwhile, output of capital goods showed a decline of 4.4 percent.

The economy ministry said the downturn in the industry continues in October. However, recent developments in new orders and business expectations indicate that a stabilization trend could emerge in the coming months, the ministry noted.

Data released on Thursday showed that factory orders declined 0.4 percent in October on weak domestic demand.

Looking ahead, both soft and hard indicators bode ill for industrial activity in the months ahead, Carsten Brzeski, an ING economist, said.

Trade conflicts, global uncertainty and disruption in the automotive industry have put the entire German industry in a headlock, from which it is hard to escape, the economist noted.

Ralph Solveen, an economist at Commerzbank, said a pronounced recession remains as unlikely as a noticeable upturn in the economy.

In the third quarter, the largest euro area economy had skirted recession. The economy had expanded 0.1 percent driven by spending and construction investment.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2019 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


IMF Lowers Global Growth Forecast As India Loses Steam (05 hr(s), 18 min(s), 56 sec(s) ago)
(RTTNews) - The International Monetary Fund on Monday cut the global growth forecasts for this yea ...Full Story»

IMF Lowers Global Growth Forecast As India Loses Steam (05 hr(s), 26 min(s), 56 sec(s) ago)
(RTTNews) - The International Monetary Fund on Monday cut the global growth forecasts for this yea ...Full Story»

German Economy Probably Stagnated In Q4 - Bundesbank (06 hr(s), 27 min(s), 56 sec(s) ago)
(RTTNews) - Germany's economy likely stagnated in the final three months of 2019, the Bundesba ...Full Story»

Moody's Lowers Hong Kong Credit Rating, Outlook (06 hr(s), 40 min(s), 56 sec(s) ago)
(RTTNews) - Moody's Investors Service lowered Hong Kong's credit rating and outlook on Mon ...Full Story»

Moody's: UK Credit Conditions To Remain Stable In 2020 (08 hr(s), 05 min(s), 56 sec(s) ago)
(RTTNews) - Credit quality of new securitisations and covered bonds in the UK will remain stable t ...Full Story»

Pressures On British Household Finances Ease: IHS Markit (08 hr(s), 30 min(s), 56 sec(s) ago)
(RTTNews) - Pressures on the UK household finances eased in January, a consumer survey from IHS Ma ...Full Story»

China Keeps Loan Prime Rates Unchanged (08 hr(s), 28 min(s), 56 sec(s) ago)
(RTTNews) - China kept its benchmark lending rates unchanged for the second straight month, as wid ...Full Story»

Norway Industrial Confidence Falls In Q4 (08 hr(s), 53 min(s), 56 sec(s) ago)
(RTTNews) - Norway industrial confidence decreased in the fourth quarter, data from Statistics Nor ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

IMF Lowers Global Growth Forecast As India Loses Steam

01/20/2020 - 10:15 AM (RTTNews)
(RTTNews) - The International Monetary Fund on Monday cut the global growth forecasts for this yea ...Full Story>>

IMF Lowers Global Growth Forecast As India Loses Steam

01/20/2020 - 10:07 AM (RTTNews)
(RTTNews) - The International Monetary Fund on Monday cut the global growth forecasts for this yea ...Full Story>>

German Economy Probably Stagnated In Q4 - Bundesbank

01/20/2020 - 09:06 AM (RTTNews)
(RTTNews) - Germany's economy likely stagnated in the final three months of 2019, the Bundesba ...Full Story>>

Moody's Lowers Hong Kong Credit Rating, Outlook

01/20/2020 - 08:53 AM (RTTNews)
(RTTNews) - Moody's Investors Service lowered Hong Kong's credit rating and outlook on Mon ...Full Story>>

Moody's: UK Credit Conditions To Remain Stable In 2020

01/20/2020 - 07:28 AM (RTTNews)
(RTTNews) - Credit quality of new securitisations and covered bonds in the UK will remain stable t ...Full Story>>
Copyright © 2020. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.