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Germany’s Industrial Output Declines Sharply in September.

Berlin: Germany's industrial output decreased more than market estimates in September, according to official data released on Thursday. Production in industry dropped 2.5% on a monthly basis in September, shifting from a downwardly revised 2.6% hike in August, German statistical authority Destatis said in a statement. The market forecast for September was a 1% monthly decline. According to Anadolu Agency, the deterioration was mainly led by a significant decline in the automotive industry, with a 7.8% month-on-month decrease in September, following an increase of 15.4% in August. "The significant fluctuations observed in the automotive industry had a serious impact on the overall development of production in the past months," the statement read. The chemical industry's production also dropped by 4.3%, which weighed on overall performance in September. By contrast, production in the manufacture of machinery and equipment rose by 1.7% during the same period. On an annual basis, Germany's industrial production shrank 4.6% in September, falling faster from a 3% decrease in August.