By Xavier Fontdegloria
German industrial production fell in September for the second consecutive month as supply-chain bottlenecks weighed on factory output.
Total industrial output –comprising production in manufacturing, energy and construction– decreased 1.1% in September on month in calendar-adjusted terms, statistics office Destatis said Friday.
Economists polled by The Wall Street Journal had forecast a 1.0% increase. In August, industrial production fell by a revised 3.5%.
Industrial output fell 1.0% in September compared with the same month a year earlier, and was down 9.5% compared to February’s 2020 pre-pandemic levels, Destatis said.
Manufacturing output fell by 1.5% on month, and production of motor vehicles rose 2.1% in September after declining 18.9% the previous month, the data showed.
Outside industry, energy production was up 1% and production in construction increased by 1.1%, the statistics office said.
The industrial production data followed Thursday’s release of manufacturing orders data, which showed a 1.3% on-month gain in September.
Germany’s factory sector remains afflicted by widespread supply-chain problems, with raw material shortages restraining both production and new orders, according to recent data from purchasing managers surveys.
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This article was originally published by Marketwatch.com. Read the original article here.