German Economy Developing Less Rapidly

Orders and production in September fell even lower than in the previous month. There was a drop of 1.3 percent recorded by manufacturing firms which was the largest decline in nearly a half year, the Federal Statistics Office said on Tuesday. Manufactures have increased prices and seasonally adjusted minus of 2.8 percent. In August, sales were still up by 2.0 percent.

Even the particularly strong export business shrank by 1.7 percent. Sales of German customers were down by 0.8 percent. The low demand was particularly felt by the mechanical engineers, who had 3.7 percent reduction, the largest decline. The auto industry suffered losses of 0.8 percent, stagnated during the chemical industry transactions. Only the food and feed industry reported a growth of 0.5 percent.

From January to September, the manufacturing was 9.6 percent more than in the previous year. The domestic business rose by 5.9 percent, international sales by 14.3 percent. However, the signals point to a slower pace: The industry reported a contraction in September  by 4.0 percent. That was the biggest drop in almost two years.  Production declined in September by 0.8 percent.

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