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10/8/2019, 8:03 AM (Source: TeleTrader)
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German industry raises output by 0.3% in August

Parallel to a decline in orders reported by manufacturers, Germany's industrial production strengthened 0.3% in August. The yearly drop still accelerated to 4% from 3.9%, but only after the figure for the previous month was revised 0.3 percentage points higher, according to a report released on Tuesday by Destatis.

Furthermore, the result for July alone was improved from the flash update to show a total decline of 0.4% instead of 0.6%. The headline for the reporting month was underpinned by the core industry, which showed an output gain of 0.7%. The measure excludes construction and energy, which disappointed with a fall of 1.5% and 1.7%, respectively.

Back to the narrower gauge, the increase in August was led by capital goods, advancing 1.1%. The segment was followed by intermediate goods (1%), against a 1% slump in consumer goods production.

Breaking the News / IT