German Industrial Output Fell by 1%, Contrary to Expectations in April

German industrial output unexpectedly fell in April, data showed, in a sign that semiconductor shortages and other supply bottlenecks are undermining the recovery of Europe’s largest economy.

The Federal Statistics Office said industrial output fell 1% compared to the previous month, after an increase that was revised down to 2.2% in March. A Reuters poll had forecast a 0.5% increase in April.