Germany’s industrial output declines more than market estimate
Fast News
Due to delivery bottlenecks, industrial production has fallen 0.8% month-on-month, says Germany’s statistical office.
(Reuters Archive)
Germany’s industrial production has dropped 0.8% on a monthly basis in August, more than market forecast, the country’s statistical authority has revealed.
“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,” the Federal Statistical Office (FSO) said in a statement on Friday.
The results followed a 0.3% decrease in July amid delivery bottlenecks, according to the FSO. The market estimate was a 0.5% contraction for the month.
The production of intermediate goods declined 2.4% in August from a month ago.
On an annual basis, industrial output was down 2.1% from August 2021, the data showed.
READ MORE: Germany could miss gas-saving targets as harsh winter looms
READ MORE: Germany expects recession next year as gas crisis worsens
Source: AA
Fast News
Due to delivery bottlenecks, industrial production has fallen 0.8% month-on-month, says Germany’s statistical office.
(Reuters Archive)
Germany’s industrial production has dropped 0.8% on a monthly basis in August, more than market forecast, the country’s statistical authority has revealed.
“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,” the Federal Statistical Office (FSO) said in a statement on Friday.
The results followed a 0.3% decrease in July amid delivery bottlenecks, according to the FSO. The market estimate was a 0.5% contraction for the month.
The production of intermediate goods declined 2.4% in August from a month ago.
On an annual basis, industrial output was down 2.1% from August 2021, the data showed.
READ MORE: Germany could miss gas-saving targets as harsh winter looms
READ MORE: Germany expects recession next year as gas crisis worsens
Source: AA
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