By Tuba Ongun
Germany’s industrial output fell more sharply than expected in February, according to official data released Monday by the country's statistical authority Destatis.
The industrial production dropped by 1.3% from the previous month in February, reversing January's 2% growth.
Markets had forecast a smaller decline of 0.9% for the month.
The downturn in February was largely driven by a 3.2% decrease in the construction sector compared to the previous month.
The food industry also saw a notable drop, with output falling 5.3%, while energy production slipped 3.3%.
Manufacturing of electrical equipment, on the other hand, rose by 3.3%, helping to offset some of the broader losses.
On an annual basis, Germany’s industrial production plunged 4% in February.