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Germany's Industrial Output Falls Unexpectedly

Germany's industrial production declined unexpectedly in August, figures from Destatis revealed Monday.

Industrial output slid 0.3 percent from July, confounding expectations for an increase of 0.5 percent. Production had decreased 1.3 percent in July.

On a yearly basis, industrial production logged a fall of 0.1 percent, in contrast to the expected growth of 0.1 percent and the 1.5 percent increase seen in July.

Excluding energy and construction, industrial production dropped 0.1 percent in August.

Energy production advanced 1.3 percent, while construction output decreased 1.8 percent.

Capital goods output fell 0.7 percent. Meanwhile, output of consumer goods advanced 1.4 percent and that of intermediate goods showed an increase of 0.1 percent.

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