German industrial production in June hits lowest level since May 2020
Industrial output falls 1.9% month-on-month in June, led by manufacture of machinery and equipment, pharmaceutical, and food industries

ISTANBUL
Industrial output in Germany dropped 1.9% on a monthly basis in June, reaching lowest level since May 2020, according to the country’s statistical authority data released on Thursday.
The decline accelerated from the May's downwardly revised 0.1% monthly drop, data from Destatis showed, while the market forecast was a 0.4% fall for June's figure.
The downturn was mainly led by a major drop in the manufacture of machinery and equipment, which fell 5.3% month-on-month.
The pharmaceutical industry and the food industry also saw major falls in June, falling 11% and 6.3%, respectively.
"By contrast, the growth recorded in energy production (+3.1%) had a positive effect," Destatis said
In June, production in industry excluding energy and construction was down 2.8% on a monthly basis.
"Within industry, decreases were reported in all three major groups. The production of consumer goods fell by 5.6%, capital goods production by 3.2% and intermediate goods production by 0.6%. Outside industry, production in construction increased by 0.7%," it noted.
Compared with June 2024, production in industry excluding energy and construction was down 4.7% in June.
On an annual basis, Germany's industrial output declined 3.6% in June.
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