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Financial News: Germany Industrial Production Falls Unexpectedly In Septem

Germany Industrial Production Falls Unexpectedly In September

11/05/2021 - 03:17:00 (RTTNews)

(RTTNews) - Germany industrial production declined unexpectedly in September, figures from Destatis revealed on Friday.

Industrial production dropped 1.1 percent on a monthly basis, but slower than the revised 3.5 percent decline seen in August. Economists had forecast a monthly growth of 1 percent.

On a yearly basis, retail sales fell 1 percent, in contrast to the 2.2 percent increase in August.

Excluding energy and construction, industrial production dropped 1.5 percent.

Within industry, capital goods output showed a decrease of 2.8 percent and the production of intermediate goods was down 1.1 percent. There was an increase of 2.1 percent in the manufacture of motor vehicles, trailers and semi-trailers. Consumer goods output gained 0.2 percent.

Energy production was up 1.0 percent and the production in construction moved up 1.1 percent.

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