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Germany Industrial Output Falls Unexpectedly

Germany's industrial production declined unexpectedly in October, data from Destatis revealed on Friday.

Industrial production decreased 1.7 percent on a monthly basis in October, bigger than the revised 0.6 percent fall logged in September. Economists had forecast output to recover 0.1 percent.

On a yearly basis, industrial output declined sharply by 5.3 percent after easing 4.5 percent in September. Production was expected to decline 3.6 percent in October.

Excluding energy and construction, production was down by 1.7 percent.

Within industry, energy output advanced 2.3 percent, while construction output decreased 2.8 percent.

Production of intermediate goods increased 1.0 percent and that of consumer goods by 0.3 percent. Meanwhile, output of capital goods showed a decline of 4.4 percent.

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