Brandenburg Gate in Berlin, Germany

Germany Industrial production May 2023

Germany: Industrial output deteriorates in May

Industrial output declined 0.2% in calendar and seasonally adjusted month-on-month terms in May, which contrasted April’s 0.3% increase. The weakening was partly driven by a deterioration in manufacturing production growth. Additionally, construction sector production dropped at a sharper rate, while energy production fell at a steeper pace than in the previous month. In contrast, mining and quarrying output fell at a more moderate rate.

On an annual basis, factory output grew 0.7% in May, which was below April’s 1.7% expansion.

Meanwhile, annual average industrial production growth rose to 0.4% in May (April: +0.2%), signaling an improving trend in the industrial sector.

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