German Industrial Output Declines Most In 11 Months

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(RTTNews) - Germany's industrial production logged its biggest fall in nearly a year in June, data from Destatis revealed on Thursday.

Industrial output decreased 1.9 percent on a monthly basis in June, worse than the economists' forecast of 0.4 percent drop. This was the biggest fall since July 2024.

Production for May was revised down from the initially estimated 1.2 percent increase to a fall of 0.1 percent. The unusually high revision was due to data corrections reported by some establishments in the automotive industry, the statistical office said.

Destatis said industrial production reached the lowest level since May 2020, when it decreased dramatically due to the Covid-19 pandemic.

On a yearly basis, the decline in industrial production deepened to 3.6 percent from 0.2 percent in the previous month.

Excluding energy and construction, industrial production fell 2.8 percent from the previous month and by 4.7 percent from the previous year.

Within industry, all three major groups reported decreases in June. The production of consumer goods fell 5.6 percent and that of capital goods production slid 3.2 percent. Intermediate goods production was down 0.6 percent.

ING economist Carsten Brzeski said the path for the German economy and industry will be particularly affected by trade, the exchange rate, and fiscal stimulus. German industry remains stuck in a very long bottoming out, the economist added.

Taggar: EUR

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Eurozone Retail Sales Recover In June

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German Factory Orders Log Unexpected Fall

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Eurozone Private Sector Continues To Expand

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Eurozone Investor Sentiment Weakens Unexpectedly

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Eurozone Inflation Steady At 2% ECB Target

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Eurozone Manufacturing Activity Moves Closer To Stagnation

The euro area manufacturing activity registered a broad stabilization in July as output continued to increase despite a fresh fall in new orders, purchasing managers' survey compiled by S&P Global showed on Friday. The HCOB final manufacturing Purchasing Managers' Index rose to a three-year high of 49.8 in July from 49.5 in June. The score matched the flash estimate.

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German Unemployment Rises In July

Germany's unemployment increased less than expected in July but the overall number of people out of work remained close to the 3 million mark due to the prolonged period of economic slowdown, official data revealed on Thursday. The number of unemployed rose by less-than-expected 2,000 from June, the Federal Employment Agency said. For July, economists had forecast an increase of 15,000.

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German Industrial Output Declines Most In 11 Months