Germany industrial production drops in July, led by automotive plunge
German industrial output fell 1.1% month-on-month in July, versus expectations for a 0.1% increase. Destatis attributed much of the decline to a 9.2% slump in automotive production, linked to a multi-week shutdown.
1% rise and marking a setback after a period of modest stabilisation across the sector. 2% slump in automotive production, reflecting a multi-week shutdown.