News

#Dow Jones Newswires: German industrial output drops more sharply than expected in March

Table of Contents

“Dow Jones Newswires: German industrial output drops more sharply than expected in March”

By Maria Martinez

German industrial production fell sharply in March due to an intensification in supply-chain problems and higher input prices.

Total industrial output–comprising production in manufacturing, energy and construction–fell 3.9% in March compared with the previous month in calendar-adjusted terms, statistics office Destatis said Friday. Economists polled by The Wall Street Journal had forecast a 1.0% decline.

In February, industrial production increased 0.1% compared with a 0.2% rise previously estimated.

Manufacturing production fell 4.6% on month and energy production was down 11.4%, while production in construction increased 1.1%, the data showed.

On an annual basis, industrial output declined 3.5% in March, Destatis said.

Germany’s industrial-production data follows the publication of manufacturing orders on Thursday, which logged a 4.7% on-month decline in March in adjusted terms.

Write to Maria Martinez at [email protected]

If you liked the article, do not forget to share it with your friends. Follow us on Google News too, click on the star and choose us from your favorites.