German industrial production down by 0.8% in Aug over Jul

In August this year, production in industry excluding energy and construction was down by 0.1 per cent in seasonally- and calendar-adjusted terms compared with July.

The production of consumer goods was up by 1.8 per cent and that of capital goods by 1.2 per cent. The production of intermediate goods decreased by 2.4 per cent, Destatis said in a release.

In the energy-intensive industrial branches, production declined by 2.1 per cent in August compared with July. This decrease was much larger than in industry as a whole.

Production in the energy-intensive industrial branches has dropped by 8.6 per cent since February 2022.

Production is still affected by the extreme shortage of intermediate products. Enterprises still face difficulties completing their orders as supply chains are interrupted because of the war in Ukraine and distortions persist that have been caused by the COVID-19 crisis.

Sixty-two per cent of the industrial enterprises surveyed complained of bottlenecks and problems in procuring intermediate products and raw materials in August this year, according to the Ifo Institute for Economic Research.

ALCHEMPro News Desk (DS)