Financial News: Germany Industrial Production Falls More Than Forecast

Germany Industrial Production Falls More Than Forecast

11/07/2024 - 03:10:00 (RTTNews)

(RTTNews) - Germany's industrial production declined more than expected in September, data from Destatis revealed Thursday.

Industrial production posted a monthly fall of 2.5 percent, partially offsetting the 2.6 percent increase in August. The decline was seen at 1.1 percent.

Excluding energy and construction, industrial production decreased 2.7 percent from the previous month and by 5.2 percent from the last year.

On a yearly basis, industrial production was down 4.6 percent in September after a 3.0 percent drop in the previous month.

The zigzagging of industrial data suggests that German industry has not yet entered a period of full bottoming out, ING economist Carsten Brzeski said.

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