German industrial production dropped -0.6% mom in July, well below expectation of 0.3% mom. Over the year, production dropped -4.2% yoy. Looking at some details, production in industry excluding energy and construction was down by -0.8%. Within industry, the production of intermediate goods decreased by -0.7% and the production of capital goods by -1.2%. The production of consumer goods showed an increase by 0.6%. Outside industry, energy production was down by -1.3% and the production in construction increased by 0.2%.
