Germany: Industrial output growth accelerates in October
Industrial production rose 3.2% on a calendar-adjusted month-on-month basis in October, up from the 2.3% expansion logged in September. The headline figure was driven by intermediate and capital goods as well as energy production and construction activity. Consumer goods output dropped, however. Looking at the automotive sector, the largest branch of the manufacturing sector, output rise a strong 9.9% month-on-month, but remained well below its level of output in February.
On an annual basis, industrial output dropped a more moderate 3.0% in October compared to September’s 6.7% fall.