German industrial production slumped by 4.3% in August. However, this is mainly due to a much lower level of car production, which was affected by the relatively late factory holidays. Although production is expected to be significantly higher again in September, today’s figures are a further indication that the German economy hardly grew at all in the third quarter.

The next weak economic data from Germany: industrial production fell by 4.3% in August, while in the manufacturing sector, the decline was as much as 5.6%. This is largely due to an 18.5% slump in car production. When presenting its production figures for August, the German Automobile Association had already pointed out that factory holidays were unusually frequent in August this year, dampening production in that month more than is taken into account in the seasonal adjustment. However, production in other industrial sectors also fell by 2.5%, although the summer holidays may have played a role here as well.