Bigger than expected drop for German factory output in September
The Peninsula
Frankfurt, Germany: German industrial production fell by more than expected in September, official data showed Thursday, as Europe s biggest economy s...
Frankfurt, Germany: German industrial production fell by more than expected in September, official data showed Thursday, as Europe's biggest economy struggles to emerge from a period of stagnation.
Output fell by 2.5 percent month-on-month according to seasonally adjusted data published by the Destatis agency, erasing the increase observed in August, revised to 2.6 percent.
Analysts consulted by Factset had forecast a more modest decline of one percent.
Production has closely tracked developments in the key automotive sector, where output fell by 7.8 percent in September after a jump of 15.4 percent in August.
The country's flagship automotive sector is facing a host of structural challenges, such as electrification and Chinese competition.
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