German industrial production collapses more than expected in March
German industrial production fell sharply in March due to worsening supply chain problems and higher input prices.
The total industrial production – consisting of production in the manufacturing sector, in the energy sector and in the construction industry – fell by 3.9% in March compared to the previous month, the statistics office Destatis announced on Friday. Economists polled by the Wall Street Journal had forecast a 1.0% decline.
In February, industrial production increased by 0.1% compared to a previously estimated increase of 0.2%.
Manufacturing output fell 4.6% month-on-month and energy production fell 11.4%, while construction output rose 1.1%, the data showed.
On an annualized basis, industrial production fell 3.5% in March, Destatis said.
Germany’s industrial production data follows Thursday’s release of manufacturing orders, which fell an adjusted 4.7% mom in March.
Write to Maria Martinez at maria.martinez@wsj.com
https://www.marketwatch.com/story/german-industrial-output-fell-more-sharply-than-expected-in-march-271651817796?rss=1&siteid=rss German industrial production collapses more than expected in March
