German industrial output falls in June, following the slump in industrial orders
- German industrial production fell -0.9% over the month in June while increasing 2.5% y/y.
- The decrease in German industrial output comes just one day after industrial new orders in Germany slumped -4.0% m/m.
- In May, German industrial production rose 2.4% over the month while increasing 3.0% y/y.
German industrial conglomerate is slowing down according to the hard data published by Destatis, the federal statistical authority. The day after the industrial new orders slumped -4.0% over the month in June dragging the annual comparison of industrial orders into the negative growth rate of -0.8% y/y in June, data for industrial production came out lower than expected.
German industrial production fell -0.9% over the month in June while increasing 2.5% y/y as indicated earlier by PMI survey in manufacturing from IHS/Markit that saw German manufacturing PMI falling to the lowest level in 18-months.
Industrial production excluding energy and construction sector fell -0.8% m/m in June. Within the whole industrial sector, the production of capital goods decreased by -0.6% m/m and the production of consumer goods fell by -1.6% m/m. The production of intermediate goods showed a decrease of 0.8% m/m. Energy production was up by 2.9% m/m in June 2018 and the production in construction decreased by 3.2% m/m.
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Author
Mario Blascak, PhD
Independent Analyst
Dr. Mário Blaščák worked in professional finance and banking for 15 years before moving to journalism. While working for Austrian and German banks, he specialized in covering markets and macroeconomics.
