Germany’s industrial output, exports fall in June
The data showed that production in industry excluding energy and construction declined 1.3% month over month. Construction output decreased 4.5% and the production of capital goods declined 2.6% in June. Intermediate goods output dropped 0.3% while consumer goods production also posted a decrease of 0.2%. Energy output, however, increased 2.3% in June from a month earlier.
Meanwhile, according to a separate report released by Destatis, Germany’s exports dropped by 1% month over month in June on a seasonally adjusted basis while imports declined 0.5%. Economists’ initial estimates called for a drop of 0.5% for exports and and a gain of 0.5% in imports in a survey by Reuters. In accordance with the new figures, Germany’s trade surplus rose to a record high of €24 billion ($26.19 billion).
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