Economic Buzz: German industrial production down by 0.7% in March

Industrial production in Germany saw a monthly decline of 0.7% in March, the country's statistical office Destatis revealed in its report published on Friday. Compared to the same month of the previous year, the figure sank by 2.8%.

Furthermore, energy production slid by 4% compared to February, while production in energy-intensive industrial branches rose by 1.2% over the same period.

The document attributed the monthly slump in overall industrial production to a significant decline in the aforementioned energy production and in machinery and equipment manufacturing, with the latter decreasing by 2.7%.

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