Germany's Industrial Production Declines Contrary to Expectations

According to provisional data provided by the Federal Statistical Office of Germany (Destatis), seasonally and calendar-adjusted real industrial production fell by 1.0% month-on-month in October 2024. Economists had expected an increase of 1.2%. The comparison, which shows less variability than a three-month period, indicated that production was 0.4% lower in the period from August 2024 to October 2024 compared to the previous three months. After the revision of provisional results, production decreased by 2.0% in September 2024 compared to August 2024. When compared to October 2023, the production in October 2024 was 4.5% lower after being adjusted for calendar effects.