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Germany’s industrial output sees biggest drop in nearly 2 years

by ChemOrbis Editorial Team -
  • 07/09/2016 (11:34)
According to data released by Germany’s Economy Ministry, the country’s industrial production unexpectedly declined in July and witnessed its sharpest fall within the last 23 months.

In a survey by Reuters, initial forecasts on industrial output were calling for an increase of 0.7%, however, data from the Economy Ministry shows an opposite result, a 1.5% drop on a monthly basis.
Both construction output and energy output rose by 1.8% and 2.6% respectively, while manufacturing fell by 2.3%.

Companies still follow a wait and see approach on the back of the stagnant export markets around the world, according to a statement by the German Economy Ministry.
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