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German industry output drops in Sept, manufacturing weighs
November 7, 2012 / 11:05 AM / 5 years ago

German industry output drops in Sept, manufacturing weighs

BERLIN (Reuters) - German industrial production fell more than forecast in September, weighed down by manufacturing, Economy Ministry data showed on Wednesday, pointing to the huge impact the euro zone crisis is having on Europe’s largest economy.

Industrial output in Germany dropped by 1.8 percent on the month in September, coming in well below the mid-range forecast in a Reuters poll of 37 economists for a 0.5 percent fall.

Factories churned out 2.2 percent fewer intermediate goods and produced 3.5 percent fewer capital goods on a monthly basis, dragging overall output down.

Activity in the construction sector, which rose by 2.7 percent on the month, was the only bright spot.

“Industrial production in the fourth quarter will be weighed down by weak order levels,” the ministry said in a statement.

The data for August was revised up to a drop of 0.4 percent from a decrease of 0.5 percent.

Reporting by Michelle Martin, editing by Gareth Jones

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