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(CEP News) - German industrial production continued to contract in February, according to a report from the German Federal Statistics Office (Destatis) on Thursday.
Destatis reported a 2.9% month-over-month decline in industrial production compared to economists' expectations for a 3.0% fall. January's 7.5% decline was revised up to a fall of 6.1%. The manufacturing and mining sector took the largest hit, falling by 3.3% on the month compared to the previous 7.7% decline. The sector's fall was led by a 4.5% contraction in intermediate goods and a 3.6% decrease in consumer goods. Energy production fell 2.6% on the month after rising 7.1% the month prior, and construction advanced 1.9% after falling 7.5% previously. Meanwhile, annual production contracted 20.6% compared to expectations for a 21.7% fall, and January's 19.3% pullback was revised to a 17.9% decline. By Erik Kevin Franco,
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; edited by Nick Say,
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