German industrial production declines slightly – MarketWatch

German industrial production declines slightly – MarketWatch

German industrial production declined in August after three straight months of growth, the statistics office Destatis said Wednesday.

Total industrial output–comprising production in manufacturing, energy and construction–fell 0.2% in August from July in calendar-adjusted terms. Economists had forecast a 1.5% increase, according to a poll by The Wall Street Journal.

On a year-over-year basis, total industrial output fell 9.6% in calendar-adjusted terms.

Compared with February–the month before restrictions were imposed in Germany due to the coronavirus pandemic–new orders in August were 10.8% lower in seasonally and calendar-adjusted terms.

Destatis also upwardly revised the month-over-month industrial-production figure for July to a 1.4% increase.

Excluding energy and construction, industrial output was down 0.7% in August. The production of intermediate goods showed a 3.3% increase. The production of consumer goods decreased 1.3% and the output of capital goods fell 3.6%.

Energy production was up 6.7% and the output in construction fell 0.3%.

Production in the automotive industry–the largest branch of manufacturing–fell 12.5% on month, following an increase of 8.9% in July.

Write to Maria Martinez at maria.martinez@wsj.com

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