Germany's industrial production unexpectedly expanded in August following two monthly declines, led by a boost in intermediate and capital goods, provisional data from the country's Federal Statistical Office showed.
Industrial production rose 0.3% month over month on a price-, seasonally and calendar-adjusted basis in August, after a revised 0.4% decline in July. The reading exceeded the Econoday estimate of a 0.1% drop.
Production in industry excluding energy and construction rose 0.7%. Production of intermediate goods and capital goods went up 1.0% and 1.1%, respectively.
Meanwhile, consumer goods' output fell 1.0% and production in energy and construction dropped 1.7% and 1.5%, respectively.
Year over year, Germany's industrial production dropped 4.0% in August, following a revised 3.9% decline in the prior month. The consensus estimate of economists polled by Econoday was for a decline of 4.2%.
Earlier government data showed that Germany's factory orders fell more than expected in August, while data from IHS Markit showed that September business output slipped into contraction territory for the first time since April 2013.
