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Industrial Production in Germany decreased 0.80% in July of 2023 over the previous month, worse than the market consensus of a 0.5% drop and following a downwardly revised 1.4% decline in June.
This was the fourth time of fall so far this year, weighed by lower output in capital goods (-2.9%), consumer goods (-1.0%), and intermediate goods (-0.7%).Excluding energy and construction, industrial production fell by 1.8%.
On an annual basis, industrial production shrank by 2.1%, after declining 1.5% in the previous month.
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