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German industrial output dropped 1.1% in July, despite solid order intake and improved business sentiment. KfW chief economist Dirk Schumacher said the decline can be explained primarily by production changes in autom…
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.
Germany’s industrial production unexpectedly fell in July, with auto-sector activity sharply lower. Output dropped 1.1% on month after a flat June reading, Destatis said.
Germany’s industrial production unexpectedly fell 1.1% month-on-month in July after a flat June, as Destatis cited sharply lower output in the auto sector.