German industrial production falls notably in October: official data
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Exhibition Name: German industrial production falls notably in October: official data
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Germany's industrial production fell by 1.7 percent in October compared to the previous month, and by 5.3 percent year on year, according to data released on Friday by the Federal Statistical Office (Destatis).

Germany's production of capital goods, such as machinery and equipment, decreased sharply by 4.4 percent in October compared to the previous month, Destatis noted.

The only German industrial sectors which recorded a higher production were intermediate goods, which increased 1 percent compared to the previous month, and consumer goods which increased 0.3 percent, according to Destatis.

Production had already fallen by 0.6 percent in September.

For the entire year of 2019, the Federation of German Industries (BDI) expects German industrial production to decline by around 4.5 percent year on year.

"The German economy is threatened by a recession. The weakness in industry is gradually spreading like an oil leak into other sectors of the economy, such as logistics, which is one of the service providers," Timo Wollmershaeuser, senior economist at the German ifo Institute, warned at the beginning of December.

Source: Xinhua
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