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German industrial output unexpectedly falls in Aug

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File photo of a worker walking through finished steel bars of different quality and size outside at the steel mill of German steel maker Lech-Stahlwerke GmbH in Meitingen near Augsburg Oct 9, 2012.

[BERLIN] German industrial output fell in August at its fastest pace in a year, data from the Economy Ministry showed on Wednesday, suggesting that the economy may be losing momentum in the third quarter.

Factories produced 1.2 per cent fewer goods than in the previous month, the ministry said. That was the strongest fall since August 2014 and missed the Reuters consensus forecast for a 0.2-per cent rise.

The July figure was revised up to a 1.2 per cent increase from a previously reported rise of 0.7 perc ent. "The unfavourable constellation of the summer holidays contributed significantly to the fall in output," the ministry said in a statement.

REUTERS