Total industrial output--comprised of output in manufacturing, energy and construction--rose 1.2% in July from June in calendar-adjusted terms. On a year-on-year basis, total industrial output fell 10.0% in calendar-adjusted terms. Destatis also upwardly revised industrial-production figures for June to an increase of 9.3% from May. "German Industrial Production Lost Pace in July," at 0837 GMT, incorrectly said in the second, third and fourth sentences that total industrial output rose 2.8% month-on-month and fell 7.3% year-on-year, and that the upwardly revised figure for June was a 28.8% increase. The correct version follows:
German industrial production increased for the third consecutive month in July but its recovery lost steam, federal statistics office Destatis said Monday.
Total industrial output--comprised of output in manufacturing, energy and construction--rose 1.2% in July from June in calendar-adjusted terms. Economists had forecast a 4.1% increase, according to a poll by The Wall Street Journal.
On a year-on-year basis, total industrial output fell 10.0% in calendar-adjusted terms.
Destatis also upwardly revised the month-on-month industrial-production figure for June to a 9.3% increase.
In July, manufacturing production rose 2.8% in seasonally and calendar-adjusted terms. Compared with February--the month before restrictions were imposed due to the coronavirus pandemic in Germany--new orders in manufacturing were 8.2% lower.
Domestic orders decreased 10.2% and foreign orders rose 14.4% in July on the previous month, Destatis says. New orders from the eurozone went up 7.3%, while new orders from other countries increased 19.2%.
Manufacturers of intermediate goods saw new orders increase 9.5%, while manufacturers of capital goods saw a decrease of 0.4% on the previous month. Meanwhile, for consumer goods, new orders rose 0.2%
Industrial-production data follows manufacturing orders, published on Friday, which showed a 2.8% increase in orders in July on an adjusted basis.
Write to Maria Martinez at maria.martinez@wsj.com
"correct" - Google News
September 07, 2020 at 02:51PM
https://ift.tt/3jUrW5S
Correct: German industrial production lost pace - MarketWatch
"correct" - Google News
https://ift.tt/3d10rUK
https://ift.tt/35qAk7d
Bagikan Berita Ini
0 Response to "Correct: German industrial production lost pace - MarketWatch"
Post a Comment