By Maria Martinez
Germany’s industrial production rose in September, beating expectations even as demand for goods moderated and factories grappled with high energy prices and supply bottlenecks.
Total industrial output–comprising production in manufacturing, energy and construction–increased 0.6% on month in September, data from the German statistics office Destatis showed Monday. Economists polled by The Wall Street Journal had expected a 0.1% increase.
In August, industrial production fell 1.2%, instead of decreasing 0.8% as the first estimate showed.
On an annual basis, industrial output increased 2.6% in September, Destatis said.
Production in manufacturing rose 0.7% on month and energy production increased 1.7%, while construction output fell 0.3%, the data showed. In the energy-intensive industrial branches, production declined by 0.9% in September compared with August, a larger decrease than in industry as a whole, according to the German statistics office.
Production is still affected by the extreme shortage of intermediate products, Destatis said. In an Ifo Institute survey, 65.8% of enterprises complained of bottlenecks and problems in procuring intermediate products and raw materials in September.
Germany’s industrial sector faces pressure from cooling demand, with new orders for factories declining 4.0% in September and falling for eight consecutive months.
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