German industrial production unexpectedly falls
Translated from German and summarized by DistantNews. Read the original for the full story.
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Context piece
- German manufacturing output fell 1.1% in July from the previous month after a sharp decline in automobile production.
- Economists surveyed by Bloomberg had expected a slight increase, while June’s figure was revised from a small rise to stagnation.
- Output dropped 1.6% from a year earlier, marking a setback for Germany’s economic performance.
Germany’s industrial production suffered an unexpected setback in July, driven by a significant decline in the automotive sector.
Total manufacturing output fell 1.1% from June on a seasonally and calendar-adjusted basis, according to preliminary data from the Federal Statistical Office in Wiesbaden. Economists surveyed by Bloomberg had expected a slight increase.
The June figure also weakened after a downward revision. Contrary to the earlier report in August, production did not edge up that month but remained unchanged from May.
Compared with July a year earlier, production fell 1.6%, adding to the setback for Germany’s economy.
About this summary
Originally published by Die Zeit in German. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.
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