Economic Buzz: German industrial production contracts 1.1%

Germany?s industrial production fell 1.1% month-on-month in July. The contraction was led by a steep drop in automotive output following production shutdowns, while capital, consumer and intermediate goods also weakened. Energy and construction provided some offset, but the broader downturn underscores persistent weakness in Germany?s manufacturing sector. On an annual basis, industrial production declined 1.6%, deepening from June.

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