German Industrial Output Decreases

Industrial production in Germany, Europe's largest economy, unexpectedly declined for a second month in September as domestic demand fell and oil prices surged. Production at construction sites, factories, utilities and mines fell 1.2 percent from August, when output also decreased 1.2 percent, the Economics and Labor Ministry said. A survey by the Bloomberg news agency showed economists had expected production to rise 0.5 percent. Rising fuel costs are crimped earnings of exporters and tempering global economic growth, Bloomberg reported. The IMF on Nov. 2 said Germany's export-led recovery will slow next year as rising unemployment holds back consumer spending.