German Industrial Production Rose Less Than Expected in September

German industrial production rose in September, statistics office Destatis said Friday.

Total industrial output–comprising production in manufacturing, energy and construction–rose 1.6% in September compared with the previous month, in calendar-adjusted terms. Economists had forecast a 2.5% increase, according to a poll by The Wall Street Journal.

On a year-over-year basis, total industrial output fell 7.3% in calendar-adjusted terms.

Compared with February, the month before restrictions were imposed in Germany due to the coronavirus pandemic, new orders in September were 8.4% lower in seasonally and calendar-adjusted terms.

Destatis upwardly revised the month-over-month industrial-production figure for August to a 0.5% increase from a 0.2% decline.

Excluding energy and construction, industrial output was up 2.0% in September. The production of intermediate goods showed a 1.4% increase. The production of consumer goods rose 3.0% and the output of capital goods increased 2.2%.

Energy production was down 2.5% and the output in construction increased 1.5%.

Production in the automotive industry, the largest branch of manufacturing, rose 10.0% on month, following an decline of 10.3% in August.

The industrial production data follows a small monthly increase in manufacturing orders in September, published on Thursday, which showed a 0.5% increase in orders on an adjusted basis.
Source: Dow Jones