Germany Industry


Industrial production rebounds in November on manufacturing

In November 2013, industrial production expanded a healthy 1.9% over the previous month in seasonally-adjusted terms. The reading contrasted the 1.2% contraction registered in October and overshot the 1.5% increase the market had expected. The expansion was driven solely by higher manufacturing production.

Compared to the same month of the previous year, industrial output increased 3.5% in November 2013, which marks the highest increase in two years. The result came in above the revised 1.1% expansion recorded in October (previously reported: +1.0% year-on-year). As a result of the strong annual figure, the trend continues to point upward with the annual average variation in industrial production rising from minus 0.9% in October to minus 0.4% in November.

Forecasters polled by FocusEconomics expect that industrial production will expand 0.3% in 2014, which is down 0.4 percentage points from last month's forecast. For 2015, the panel sees industrial production accelerating to a 2.5% expansion.

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Germany Industry Chart

Germany Industry November 2013

Note: Month-on-month changes of seasonally adjusted industrial production and annual growth rate in %.
Source: Federal Statistics Office and FocusEconomics calculations.

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