Germany's Industrial Output Ticks Up 0.4% In June

Production still affected by extreme shortage of intermediate products, says statistical office.

Germany's industrial production rose 0.4% month-on-month, the country's statistical authority revealed on Friday.
The figure followed a 0.1% decrease in May and has beaten the market estimate of a 0.3% contraction for the month, according to the Federal Statistical Office, or Destatis.
"Production is still affected by the extreme shortage of intermediate products. Supply chains are interrupted because of the war in Ukraine and distortions persist that have been caused by the COVID-19 crisis," it said in a statement.
The production of capital goods was up by 1.0%, consumer goods by 1.1%, and intermediate goods by 0.3%.
On an annual basis, industrial output was down 0.5% from June 2021, the data showed. -