German Industrial Output Falls More Than Forecast

(RTTNews) - Germany's industrial production declined more than expected in February, figures from Destatis revealed on Monday.

Industrial output fell 1.3 percent on a monthly basis, in contrast to the 2.0 percent increase in January. Output was expected to drop 0.9 percent.

On a yearly basis, industrial production decreased 4.0 percent, following January's 1.6 percent fall.

The monthly fall in overall production was attributable to the 3.2 percent fall in construction output and a 5.3 percent drop in the food industry.

Excluding energy and construction, industrial production fell 0.5 percent from January and was down 4.1 percent from the previous year.

Production of capital goods gained 0.2 percent, while intermediate and consumer goods output slid 0.4 percent and 3.0 percent, respectively.