Germany's industrial output rebounds in September

By Tuba Sahin

ANKARA (AA) – Germany’s industrial output increased 0.6% month-on-month in September, above market forecast, according to official data released on Monday.

The figure rebounded from a downwardly revised 1.2% contraction in August, German statistical authority Destatis said in a statement.

The market estimate for September was a 0.2% monthly rise.

Production of consumer and capital goods grew 1.4% and 1.1%, respectively, compared to a month ago.

Output of intermediate goods, on the other hand, decreased 0.1% from August.

The “extreme shortage” of intermediate products continues to weigh on industrial production, according to Destatis.

“Enterprises still have difficulties completing their orders as supply chains are interrupted because of the war in Ukraine and distortions persist that have been caused by the COVID-19 crisis,” read the statement.

On an annual basis, Germany’s industrial production climbed 2.6% in September.