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German industrial output exceeds forecasts
Industrial production in Germany increased by 2% in August compared to July, surpassing expectations, with a significant rise in the construction sector by 9.3% and machinery and equipment production by 5.3%. However, the automotive sector declined by 5.4%, marking the second consecutive drop, following factory holidays, reflecting the fragility of the economic recovery despite some growth in other sectors. Over the three-month period from June to August, there was a slight overall increase of 0.4%, but energy-intensive heavy industries continue to show weakness, with their production decreasing by 0.5% month-on-month and by 2.9% over the quarter, indicating that the economic recovery remains unstable.
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