Ger­man in­dus­trial pro­duc­tion tum­bles

The Myanmar Times - - International Business -

IN­DUS­TRIAL pro­duc­tion in Ger­many un­ex­pect­edly fell back sharply in July amid slug­gish global de­mand, fu­elling con­cern of a “fur­ther cool­ing” of the econ­omy.

July saw pro­duc­tion 1.5 per­cent lower than the pre­vi­ous month in Europe’s largest econ­omy, cor­rect­ing for price, cal­en­dar and sea­sonal ef­fects, the fed­eral sta­tis­tics of­fice Des­tatis said.

The fig­ure fell far short of the 0.1pc ex­pan­sion that an­a­lysts sur­veyed by Fac­tset had pre­dicted.

Com­pared with the same month in 2015, pro­duc­tion was 1.2pc lower after cor­rect­ing for cal­en­dar ef­fects.

While en­ergy and con­struc­tion both re­ported in­creases in pro­duc­tion, grow­ing by 2.6 and 1.8pc, in­dus­trial firms’ out­put con­tracted by 2.3pc. –

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