Germany's industrial output unexpectedly declines in October

By Tuba Ongun

ANKARA (AA) – Germany’s industrial output surprisingly fell in October compared to a month ago, according to official data released on Friday.

Production in industry dropped 1% month-on-month in October, easing from September's upwardly revised 2% decline, German statistical authority Destatis said in a statement.

The figure bucked market expectations of a 1% growth for the month.

The deterioration was mainly driven by a steep decline in the energy production with 8.9% from a month ago.

The production decline of 1.9% in the automotive industry had a negative impact as well.

On a yearly basis, industrial production dipped 4.5% in October, accelerating from a 4.3% decrease in September.