Germany's industrial production slightly down in October

By Gokhan Ergocun

ISTANBUL (AA) – Germany's industrial production posted a slim decline in October versus the previous month, official statistics revealed on Wednesday.

According to the Federal Statistical Office (Destatis), the industrial production was down by 0.1% month-on-month in October, while it was flat on a yearly basis.

The industrial production was up by 1.1% month-on-month and 3.1% on a yearly basis in September.

"In October 2022, production in industry excluding energy and construction was down by 0.4% in seasonally and calendar adjusted terms, compared with September 2022," it added.

On a monthly basis in October, the production of capital goods rose 1.4%, while consumer goods fell 1.9% and the intermediate goods decreased 1.8%, Destatis said.

The increase in industry excluding energy and construction was 0.8% in October year-on-year.

"Outside industry, energy production in October 2022 was down by 7.6%. Production in construction was 4.2% higher than in the previous month," according to the statistical office.