German Industrial Production Fell Unexpectedly in October
German industrial production dropped unexpectedly in October from September, as output fell in manufacturing, construction and energy, signaling that parts of the county’s industry are struggling to regain momentum after an extremely weak third quarter.
The Federal Statistical Office said Friday that total industrial output–which comprises output in manufacturing, energy and construction–fell 0.5% in October from the month before. Economists polled by The Wall Street Journal had forecast a 0.4% gain.
Production of vehicles and parts fell 0.5% on month following September’s strong gain, indicating that some German car makers continue to struggle to cope with the switch to new emissions-testing standards.
Germany’s economics ministry said the data shows that “strong new orders in the automotive industry and a greater variety of passenger cars approved under the new standard indicate that German industrial activity will pick up speed again in the course of the fourth quarter.”
Source: Dow Jones