Germany: Industrial output declines for second consecutive month

In October, industrial production contracted 1.2% over the previous month in seasonally-adjusted terms. The reading followed the revised 0.7% contraction registered in September (previously reported: -0.9% month-on-month) and contrasted the 0.7% increase the market had expected. The contraction was the result of lower manufacturing production, a sharp deterioration in electricity and energy supply, and a contraction in construction.

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