Germany: Industrial production contracts in September
November 8, 2016
In September, industrial production fell 1.8% from the previous month in seasonally-adjusted terms, the lowest reading since August 2014. The result contrasted August’s large 3.0% increase and undershot market expectations of a softer 0.5% contraction. The drop was driven by deteriorations in the manufacturing, mining and electricity sectors, while the decline in construction activity accelerated.
Compared to the same month last year, industrial production increased 1.2% in September, which was below August’s 2.4% expansion. The overall trend inched up as annual average growth in industrial production came in at 0.6% in September, up from 0.5% in August.
Author: Christopher Mc Innes, Economist