German Industrial Production Contracted Unexpectedly in October

Germany’s industrial production fell unexpectedly in October, and for a fifth-straight month, a further sign of the deteriorating environment in the key manufacturing base of Europe’s largest economy.

Output dipped 0.4% compared with the previous month, seasonally and on a calendar-adjusted basis, from a 1.3% decline in September, according to data published Thursday by German statistics office Destatis.