Germany: Industrial output drops again in June
Industrial output dropped 1.5% in month-on-month terms in June, which was a deterioration from May’s 0.1% decrease. The weakening was partly due to a deterioration in manufacturing production. In contrast, mining and quarrying output rebounded.
On an annual basis, factory output declined 1.7% in June, which was below May’s flat reading and marking the worst result since December 2022. Moreover, the trend pointed down, with the annual average variation of industrial production coming in at minus 0.1%, contrasting May’s plus 0.1%.