BERLIN (Reuters) – German industrial output edged down in August following three months of relatively strong increases, suggesting the recovery in Europe’s largest economy from the coronavirus shock is starting to lose steam.
Industrial output fell by 0.2% on the month after an upwardly revised rise of 1.4% in July and a jump of 9.3% in June, figures released by the Federal Statistics Office on Wednesday showed. A Reuters poll had forecast an increase of 1.5% for August.
Factories churned out fewer capital goods and consumer goods, with the slump particularly deep in vehicle production.
“At least a part of the fall in car output was due to more companies implementing their summer shutdowns in August this year,” Andrew Kenningham from Capital Economics said.
This one-off effect coupled with rising orders and upbeat sentiment surveys could suggest that industrial output will rise again in coming months, albeit at a probably