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Sharp contraction in German industrial production in July

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Staff Writer |
German economy
Germany   According to the Ministry of Economics:

German industrial production sank in July pointing to a weak start to the quarter, although economists expected activity to bounce back in August.

Total output fell by 1.5% month-on-month (consensus: 0.1%), according to the Ministry of Economics. Production of capital goods was weakest, shrinking by 3.6% and largely undoing June's gain of 4.0%.

In comparison to a year ago, total production registered a decline of -1.2% (consensus: 0.1%) after a revised increase of 0.9% in the month before.

June's increase in total output had initially been pegged at 0.5%. Construction output was the bright spot in the report, recording a rise of 1.8% over the month.

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