Germany: Decline in industrial production for the second consecutive month

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German industrial production fell in September for the second month in a row as supply chain problems affected factory production.

Total industrial production fell 1.1% in September on a monthly adjusted basis, according to the statistical service Destatis.

Economists had forecast an increase of 1%, while in August industrial production fell by 3.5% (revised measurement).

Industrial production fell 1% year-on-year in September to 9.5% lower than pre-pandemic levels in February 2020.

Manufacturing output fell 1.5% on a monthly basis and motor vehicle production rose 2.1% in September after falling 18.9% the previous month.

Energy production increased by 1% and production in construction increased by 1.15.

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Source From: Capital

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