10/7/2022, 8:01 AM (Source: TeleTrader)
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German industrial production down 0.8% in August

Industrial production in Germany observed a monthly decline of 0.8% in August, the country's Federal Statistical Office (Destatis) revealed in its report published on Friday. The figure rose by 2.1% compared to the same month a year early.

Production in industry excluding energy and construction edged down by 0.1% compared to July. The output of consumer goods and capital goods rose by 1.8% and 1.2%, respectively. The production of intermediate goods decreased by 2.4%. On the other hand, the production of energy and construction registered falls, with the first going down by 6.1% and the latter by 2.1%.

"Production is still affected by the extreme shortage of intermediate products. Enterprises still have difficulties completing their orders as supply chains are interrupted because of the war in Ukraine and distortions persist that have been caused by the Covid-19 crisis," noted the report.

Baha Breaking News (BBN) / JG