German industrial output falls in June, following the slump in industrial orders

Mario Blascak, PhD Independent Analyst

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.

German factory orders miss big time

Author

Mario Blascak, PhD

Independent Analyst

Dr. Mário Bla&scaron;čák 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.

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