Germany’s industrial output down for 5th straight month in October

Germany’s industrial output dropped for the fifth consecutive month in October, down 0.4% from a month ago, according to Destatis data on Saturday. The market estimated a 0.2% growth in October’s figure which eased from a 1.3% decline in September. The decrease was mainly led by a 6.3% month-on-month decrease in the manufacture of machinery and equipment, shifting from a 3.9% rise in September. By contrast, production in the automotive sector rose by 0.7% in the same period. On an annual basis, industrial production dove by 3.5% in October.—AA