Germany factory output lowest since pandemic in 2020

Factory output fell 1.9 percent month-on-month, federal statistics agency Destatis said, steeper than a drop of 0.5 percent forecast by analysts polled by financial data firm FactSet. There were particularly heavy falls in the machinery and pharmaceutical sectors, helping to drag overall output down to levels last seen in May 2020 during the coronavirus pandemic. Destatis also made a major revision to May industrial production data, saying the indicator fell 0.1 percent. It had previously reported...