German industry output falls sharply in October
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FILE PHOTO: An employee of German car manufacturer Porsche works on a windshield of a sports car at the Porsche factory in Stuttgart-Zuffenhausen, Germany, February 19, 2019. REUTERS/Ralph Orlowski/
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Ralph Orlowski(Reuters)
BERLIN (Reuters) – German industrial output fell unexpectedly in October on a sharp drop in production of capital goods, pointing to persistent weakness in the backbone of the economy that may stabilise in the coming months, the Economy Ministry said on Friday.
Industrial output dropped by 1.7% on the month, confounding expectations for a 0.1% rise, figures released by the Statistics Office showed.
“The economic weakness in industry remains” the ministry said in a statement. “However, the latest developments in new orders and business expectations indicate that a stabilising trend could emerge in the coming months.”
(Writing by Paul Carrel, editing by Riham Alkousaa)
