Economic Buzz: German industrial output declines in August

Germany's industrial production declined more than expected in August, figures from Destatis showed on Wednesday.

Industrial output fell 4.3 percent year-on-year in August, in contrast to the 1.3 percent increase in July.

The production of capital goods fell 9.6 percent and that of consumer goods slid 4.7 percent. However, intermediate goods output registered a moderate decrease of 0.2 percent.

Data showed that energy production was down 0.5 percent, while construction output grew 0.6 percent in August.

Excluding energy and construction, industrial production fell 5.6 percent from July and decreased 5.1 percent from the previous year.

On a yearly basis, industrial production logged a decline of 3.9 percent, reversing July's 1.5 percent increase.

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