Germany: Industrial output decreases at sharper pace in September
Industrial production decreased 1.4% on a calendar-adjusted month-on-month basis in September (August: -0.1% mom). The reading was partly due to a deterioration in industrial production output, as it expanded at the slowest pace since March. In addition, mining and quarrying output lost steam. Meanwhile, energy production declined at a softer pace than in August.
On an annual basis, industrial production fell at a sharper rate of 3.7% in September (August: -1.9% yoy), the worst result since March 2022. Moreover, the trend pointed down, with the annual average variation of industrial production coming in at minus 1.0%, down from August’s minus 0.3%.