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German Industrial Output Slumps 1.1 Percent in July on Auto Slowdown
(MENAFN) Germany's industrial production fell 1.1% in July from the previous month, according to provisional figures released Monday by the Federal Statistical Office (Destatis).
On an annual basis, industrial production declined 1.6% in July.
Destatis also revised its June figure downward, now showing flat month-on-month production instead of the previously reported 0.2% increase.
The automotive sector bore the brunt of the downturn, with production plunging 9.2% for the month. The German Association of the Automotive Industry pointed to a multiweek production shutdown as the cause of the steep drop.
Not every sector retreated, however. Energy production rose 4.7% in July, driven largely by electricity generated from wind power and photovoltaics.
Stripping out energy and construction, industrial production fell 2.2% from June.
Within that figure, capital goods production dropped 3.4%, consumer goods fell 2.2% and investment goods slipped 0.2% in July.
Construction bucked the broader trend, with production rising 0.9% month-on-month outside the industrial sector.
Energy-intensive industrial branches saw output decline 1.7% in July compared with June.
Looking at the bigger picture, a less volatile three-month comparison showed overall industrial production up 0.4% from May to July versus the preceding three-month period.
On an annual basis, industrial production declined 1.6% in July.
Destatis also revised its June figure downward, now showing flat month-on-month production instead of the previously reported 0.2% increase.
The automotive sector bore the brunt of the downturn, with production plunging 9.2% for the month. The German Association of the Automotive Industry pointed to a multiweek production shutdown as the cause of the steep drop.
Not every sector retreated, however. Energy production rose 4.7% in July, driven largely by electricity generated from wind power and photovoltaics.
Stripping out energy and construction, industrial production fell 2.2% from June.
Within that figure, capital goods production dropped 3.4%, consumer goods fell 2.2% and investment goods slipped 0.2% in July.
Construction bucked the broader trend, with production rising 0.9% month-on-month outside the industrial sector.
Energy-intensive industrial branches saw output decline 1.7% in July compared with June.
Looking at the bigger picture, a less volatile three-month comparison showed overall industrial production up 0.4% from May to July versus the preceding three-month period.
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