FRANKFURT: German industrial production dipped more than expected in April, official data showed Tuesday, as manufacturers grappled with semiconductor and timber shortages.
Federal statistics agency Destatis said industrial output fell one percent month-on-month in Europe’s top economy, according to figures adjusted for seasonal swings, reports AFP.Analysts surveyed by Factset had predicted a smaller drop of 0.5 percent.
Compared with February 2020, the month before the first coronavirus restrictions were imposed, April’s output was 5.6 percent lower. The economy ministry blamed the April upset, which comes after a 2.2 percent jump in industrial output in March, on “a shortage of producer goods, especially semiconductors and lumber”.
Like many countries, export powerhouse Germany is struggling with a global computer chip crunch caused by a pandemic-fuelled surge in demand for home electronics.