Latest data released by Destatis - 7 October 2021
- Prior +1.0%; revised to +1.3%
- Industrial production WDA +1.7% y/y
- Prior +5.7%; revised to +6.0%
That's a significant miss on industrial output, with the likely culprit being supply bottlenecks and capacity constraints as they weigh on overall activity. Expect more subdued readings to follow in the months ahead as the issues above persist.
Compared to pre-pandemic levels i.e. February 2020, production in August was 9.0% lower in seasonally and calendar adjusted terms.
