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European Economic News

German Industrial Output Falls Unexpectedly In May

By RTTNews Staff Writer   ✉  | Published:  | Google News Follow Us  | Join Us
rttnewslogo20mar2024

German industrial production declined unexpectedly in May, official data indicated Monday.

Industrial output fell 1.8 percent in May from the prior month, Destatis reported. This was the third consecutive fall in production. Economists had forecast a 0.2 percent rise after declining by revised 0.3 percent in April.

Production in industry excluding energy and construction decreased 1.6 percent in May.

Within industry, the production of intermediate goods and consumer goods decreased by 3 percent and 3.5 percent. The producers of capital goods, however, reported a slight increase of 0.3 percent on the previous month.

Energy production gained 1 percent in May, while the production in construction slid 4.9 percent from April.

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