German industrial output shows a bigger-than expected drop in September

The German industrial production fell sharply in the month of September, way below market expectations, the data showed on Tuesday.

Germany’s industrial output declined by 1.60% on the month after rising 2.60% in August and versus -0.8% expected, the Economy Ministry data showed. On an annualized basis, the factories and construction sector output declined by 3.60% in Sept versus 4.50% expected and 4.60% (revised down from 4.76%) last.