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German industrial output falls in Sept, but outlook positive
November 7, 2017 / 7:08 AM / a month ago

German industrial output falls in Sept, but outlook positive

BERLIN, Nov 7 (Reuters) - German industrial production fell twice as much as expected in September, dropping after a bumper rise a month earlier, but grew by 0.8 percent in the third quarter as a whole and should increase further in the months ahead, the Economy Ministry said.

Industrial output fell by 1.6 percent on the month after rising by 2.6 in August, which was the biggest increase in more than six years, data from the Economy Ministry showed on Tuesday.

The September reading compared with the mid-range forecast in a Reuters poll for a drop of 0.8 percent. A breakdown of the data showed a sharp drop in factories’ production of capital goods.

The ministry said industrial production rose by 0.8 percent in the third quarter, adding that activity in the sector remained “very lively”.

“Overall, industrial production should expand further in the coming months,” it said.

Data published on Monday showed that strong demand from other euro zone countries for capital goods including machines and vehicles had contributed to an unexpected rise in industrial orders in September. (Reporting by Joseph Nasr; Editing by Michael Nienaber)

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