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German industrial output drops

AFP / Khmer Times Share:
A file photo shows cars of German car maker Volkswagen. AFP

FRANKFURT (AFP) – German industrial production declined in June, disappointing analysts’ expectations, official data showed yesterday.

Production fell by 1.1 percent month-on-month in June, after a 1.2-percent rise in May, according to figures adjusted for price, seasonal and calendar effects from federal statistics authority Destatis.

The June figure fell short of the 0.25 percent growth predicted by analysts surveyed by Factset.

Industrial production is closely watched as an indicator of the health of an economy, and has been on the rise in Germany in recent months along with indicators of business, investor and consumer confidence.

Looking at the different industrial sectors, capital goods makers’ output fell 1.9 percent, while producer goods production was down 1.2 percent.

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