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German industrial output falls unexpectedly in October
December 7, 2017 / 7:05 AM / 4 days ago

German industrial output falls unexpectedly in October

BERLIN, Dec 7 (Reuters) - German industrial production fell unexpectedly in October, the Economy Ministry said, adding that public holidays at the start of the third-quarter that prompted many workers to take long weekends had significantly contributed to the fall.

Industrial output decreased by 1.4 percent after falling by a revised 0.9 percent in September. In August output rose by 2.6 percent, which was the biggest increase in more than six years.

The October reading compared with the mid-range forecast in a Reuters poll for a rise of 1.0 percent. A breakdown of the data showed that output fell in all industrial sectors except for energy.

Capital goods, consumer goods, intermediate goods and construction fell the most.

“The favourable situation concerning orders and, above all, more optimistic business expectations promise a continuation of good industrial activity,” it said. (Reporting by Joseph Nasr; Editing by Emma Thomasson)

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