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German Industrial Production Unexpectedly Falls In October; First In 3 Months

Germany's industrial production decreased for the first time in three months in October, defying expectations for a modest increase, amid a decline in consumer goods output, preliminary figures from the Federal Statistical Office showed on Friday.

Industrial production dropped 0.5 percent from September, when they grew 0.1 percent, revised from 0.2 percent. Economists had forecast a 0.3 percent increase.

The latest fall was the first since a 1 percent slump in July.

Within industry, production of consumer goods dropped 3.2 percent, while that of capital goods grew 0.3 percent. Intermediate goods output rose 0.2 percent.

Excluding construction and energy, industrial production decreased 0.4 percent from the previous month.

Energy output dropped 3.2 percent and construction fell 0.3 percent.

On a year-on-year basis, industrial production increased 1.6 percent in October after a 0.7 percent gain in September. Economists had expected a 2.1 percent rise.

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