Industrial production in Germany fell in October

The Federal Statistical Office in Germany announced today that production rates in German manufacturing companies fell by 1% on a monthly basis, and on an annual basis, production fell unexpectedly by 4.5%. However, the decline in production in September was somewhat weaker than previously known.

The Federal Statistical Office revised the decline on a monthly basis to 2% instead of the previous 2.5%.

According to the office, the decline in production in October was largely influenced by energy production, which fell by 8.9% on a monthly basis after taking into account seasonal variables. In addition, the decline in total production was affected by the decline in the automotive industry by 1.9%.