German industrial production slumps on supply chain disruption

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BERLIN (Reuters) -German industrial output dropped by far more than expected in August due to supply chain disruptions that are holding back growth in Europe’s biggest economy and hitting the auto sector particularly hard, official data showed on Thursday. The Federal Statistics Office said industrial output fell by 4.0% on the month after an increase of 1.3% in July. A Reuters poll had pointed to a decline in August of 0.4%. “Manufacturers continue to report production constraints due to supply shortages of intermediate products,” the Office said in a statement. Production of cars and car par…

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