(Destatis) The German industry production dropped by 4.0% in August compared to the prior month due to the impact of the pandemic.
The calendar-adjusted industry production in August increased by 1.7% compared to the same period last year.
Production in all sectors, excluding construction and energy, dropped 4.7% due to the shortage of intermediate products. Capital goods production went down by 7.8%.
The automobile output and the manufacture of machinery and equipment plummeted 17.5% and 6.3%, respectively.
Consumer goods output and intermediate goods declined by 2.6% and 2.4%, respectively.
The industry output in August is now 9% below February 2020 at the onset of the pandemic.
DAX is up +1.15%, EURUSD is up +0.08%.
