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Germany’s August factory output falls at fastest pace in a year

by ChemOrbis Editorial Team -
  • 07/10/2015 (13:45)
According to data from Germany’s Economy Ministry, the country’s industrial production fell at its fastest pace in a year in August, declining by 1.2% following an upwardly revised increase of 1.2% in July. The decrease was the strongest drop since August 2014 while its also missed Reuters economists’ earlier forecasts which called for a gain of 0.2%.

Summer holidays and slowing Chinese economy which hurt the country’s external demand were cited as the main reasons behind weaker industrial output.

In August, the country’s factory orders fell at a faster pace than expected. Factory orders declined 1.8% on a seasonally and inflation-adjusted basis while economists’ initial expectations had called for a drop of 0.5%.
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