German Industrial Woes Endure as Output Drops to 6-Month Low
- Output declined 1.5% in June, economist est. 0.5% drop
- China, worker shortages, rate hikes, energy crisis hurt sector
Germany’s industrial output declined 1.5% from May.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
German industrial production fell for a second month in June, further holding back Europe’s biggest economy after it barely exited a recession earlier this year.
Output declined 1.5% from May, led by cars and construction, according to the statistics office in Wiesbaden. The median prediction in a Bloomberg survey of economists was for a drop of 0.5%. The index for output showed the lowest level since December.