German industrial output falls more than expected amid car sector decline
(MENAFN) Germany’s industrial output experienced a considerable decline of 2.4 percent in July compared to the previous month, surpassing analysts' expectations. The German Federal Statistical Office reported that this drop was significantly greater than the anticipated 0.3 percent decrease. A major contributor to this downturn was the automotive sector, which saw a dramatic 8.1 percent reduction in production. This sharp decline contrasts with the previous month's 7.9 percent increase in car production, underscoring a sudden and substantial reversal in the sector’s performance.
When examining industrial production on a quarterly basis, the figures reveal a 2.7 percent decrease from the February-April period to the May-July quarter. This broader perspective highlights a continuing decline in industrial activity, despite some sector-specific fluctuations. The consistent downturn observed over the recent months points to a more stable negative trend in overall industrial performance.
The combination of these monthly and quarterly declines reflects ongoing challenges within Germany’s industrial sector. Despite short-term variations, such as the notable rebound in automotive production in June, the overall trend indicates a persistent slowdown in industrial output. This persistent downturn suggests underlying structural issues that may continue to affect industrial performance in the near future.
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