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By Maria Martinez
German industrial production fell sharply in March due to an intensification in supply-chain problems and higher input prices.
Total industrial output–comprising production in manufacturing, energy and construction–fell 3.9% in March compared with the previous month in calendar-adjusted terms, statistics office Destatis said Friday. Economists polled by The Wall Street Journal had forecast a 1.0% decline.
In February, industrial production increased 0.1% compared with a 0.2% rise previously estimated.
Manufacturing production fell 4.6% on month and energy production was down 11.4%, while production in construction increased 1.1%, the data showed.
On an annual basis, industrial output declined 3.5% in March, Destatis said.
Germany’s industrial-production data follows the publication of manufacturing orders on Thursday, which logged a 4.7% on-month decline in March in adjusted terms.
Write to Maria Martinez at [email protected]
Source: This post first appeared on http://marketwatch.com/
