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Germany Industrial production August 2022

Germany: Industrial production drops in August

On a seasonally-adjusted monthly basis, industrial production dropped 0.8% in August (July: +0.0% mom). The contraction was driven by a drop in output of intermediate goods. This was likely due to low water levels hampering the production of chemicals, coke and refined petroleum. Production of energy and in the construction sector also dropped. On the other hand, output of consumer and capital goods rose in the month.

Industrial output grew 2.1% year on year in working-day adjusted terms in August (July: -0.8% yoy). Meanwhile, the trend pointed down, with annual average industrial production contracting 0.9% in August (July: -0.9%).

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