Brandenburg Gate in Berlin, Germany

Germany Industrial production August 2023

Germany: Decline in industrial activity softens in August

Industrial output declined 0.2% in month-on-month terms in August, which followed July’s 0.6% decrease. August’s smaller drop was partly driven by a rebound in manufacturing production. In addition, mining and quarrying production rebounded. Lastly, construction sector output dropped at a sharper rate, while energy output fell at a steeper pace than in July.

On an annual basis, industrial output fell at a sharper rate of 2.0% in August (July: -1.7% yoy), the worst result since December 2022. Accordingly, the trend pointed down, with the annual average variation of industrial production coming in at minus 0.4% in August, down from July’s minus 0.1%.

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