Ger­man in­dus­trial out­put dis­ap­points

Arab News - - Business News -

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.

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