German industrial production falls again in July as struggles continue
German industrial production fell again in July as manufacturing in Europe's largest economy continued its struggles to recover from high inflation and costs.
Production fell by 0.8% in July compared to the previous month, led by capital and consumer goods. Analysts had forecast of a 0.4 - 0.5% decline.
On a three-month comparison, production between May and July was 1.9% lower than in the previous three months, the data showed.
Industrial production (manufacturing excluding energy and construction) fell 1.8% in July compared to June, while the production of capital goods fell by 2.9% and the production of consumer goods decreased by 1.0%.
The data comes a day after July data showed that factory orders plunged by their biggest margin since the height of the Covid pandemic in 2020.
Reporting by Frank Prenesti for Sharecast.com