German industrial production fell 1.4% in September from the previous month, the Federal Statistical Office said.
Analysts polled by Reuters had forecast a decline of 0.1%.
According to Statistics Germany, in a less volatile quarterly comparison, production in the third quarter of 2023 was 2.1% lower than in the second quarter.
After the revision of preliminary results, production in August decreased by 0. 1% from July, down 0.2% from the preliminary figure.
Another disappointing release of industrial production data not only suggests third-quarter GDP growth could be revised downward, but also that the country is likely to end the year in a technical recession, says Carsten Brzeski, global head of macroeconomics at ING.
“Although hard data for the fourth quarter is not yet available, recent events have clearly increased the risk that that the German economy will end the year in recession,” Brzeski said.
