Prior +1.3%
That’s a heavy drop with the drag mostly stemming from a sharp decline in Germany’s largest industrial sector, that being the automotive industry. Output was seen falling by 18.5% compared to July, with reasons cited stretching from the holiday season to production changeovers. And if you exclude energy and construction output from the equation, total industrial production actually fell by 5.6% on the month. Ouch. It looks like German manufacturing is still facing some deep troubles in Q3.
This article was written by Justin Low at investinglive.com.