Germany's industrial output marginally lower in October| MENAFN.COM

Sunday, 29 January 2023 12:39 GMT

Germany's industrial output marginally lower in October


(MENAFN) Germany's industrial production recorded a slight decrease in October against the prior month, official statistics showed on Wednesday.

As shown by the Federal Statistical Office (Destatis), the industrial output was decreased by 0.1 percent on a monthly basis in October, whereas it was unaffected on a year on year basis.

The industrial output was lower by 1.1 percent on monthly basis and 3.1 percent on a year on year basis in September.

"In October 2022, production in industry excluding energy and construction was down by 0.4 percent in seasonally and calendar adjusted terms, compared with September 2022," it also mentioned.

On a monthly basis in October, the output of capital goods surged 1.4 percent, whereas consumer goods dropped 1.9 percent and the intermediate goods fell 1.8 percent, Destatis mentioned.

The surge in industry apart from energy and construction was 0.8 percent in October on a yearly basis.

"Outside industry, energy production in October 2022 was down by 7.6 percent. Production in construction was 4.2 percent higher than in the previous month," as shown by the statistical office.

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