German industrial output disappoints
German industrial production saw an unexpected dip in October, official data showed on Friday, suggesting a wobbly start to 4Q for Europe’s top economy.
Industrial output slipped
0.5 percent year-on-year, national statistics office Destatis said, after a downwardly revised 0.1 percent rise in September.
Analysts surveyed by Factset had predicted a jump in October output.
The fall was led by slumps in consumer goods and energy production.
But there was some good news in the manufacturing sector, with capital and producer goods makers reporting slight gains.
The German economy ministry blamed October’s weak reading on ongoing problems in the crucial auto industry, where carmakers have struggled to adapt to tough new EU pollution tests.