BERLIN – German industrial production fell again in September as evidence increased that weaker economies in China and elsewhere are taking a toll.
The Federal Statistical Office said Friday production dropped 1.1 per cent in September, adjusted for seasonal and calendar factors. The office, however, revised August’s drop to 0.6 per cent over July, half the 1.2 per cent decline initially reported.
Factory orders in September were down 1.7 per cent according to a report Thursday, suggesting production would remain sluggish.
ING-DiBa economist Carsten Brzeski said the numbers show “the Chinese and emerging market slowdowns are also leaving their marks on the eurozone’s largest economy,” which doesn’t bode well for next week’s third-quarter GDP figures.
He says “our current estimate of 0.3 per cent quarter-on-quarter growth in the third quarter all of a sudden looks rather optimistic.”