Germany: Industrial output growth accelerates in September
Industrial output rose 1.6% on a calendar-adjusted month-on-month basis in September (August: +0.5% mom). The expansion was driven by growth in consumer goods, intermediate goods, and capital goods production, while production in construction sector also rose solidly. On the other hand, falling energy output capped the headline print. Regarding the key automotive sector, output rose at a double-digit pace, but remained notably below pre-Covid-19 levels.
On an annual basis, industrial output fell at a more moderate pace of 7.3% in September (August: -8.7% yoy).
Industrial output rose 1.6% on a calendar-adjusted month-on-month basis in September (August: +0.5% mom). The expansion was driven by growth in consumer goods, intermediate goods, and capital goods production, while production in construction sector also rose solidly. On the other hand, falling energy output capped the headline print. Regarding the key automotive sector, output rose at a double-digit pace, but remained notably below pre-Covid-19 levels.
On an annual basis, industrial output fell at a more moderate pace of 7.3% in September (August: -8.7% yoy).