Germany February industrial production -1.3% vs -0.8% m/m expected

• Prior -2.0%

Much of the decline comes from a fall in energy (-0.6%) and construction (-3.2%) output though. If you strip that out, overall industrial production declined by 0.5% on the month. The breakdown shows a fall in output for intermediate goods (-0.4%) and consumer goods (-3.0%) while partially offset by an increase in output for capital goods (+0.2%).