Germany Industrial production May 2021

Germany

Germany: Industrial output falls in April

July 8, 2021

Industrial production fell 0.3% month-on-month in May, matching April’s print. The result reflected contracting output of capital goods and energy, and declining construction activity. This offset robust growth in the production of consumer and intermediate goods.

On an annual basis, industrial production jumped 17.3% in May (April: +27.6% yoy). The print benefited from a favorable base effect as the country was in lockdown in the same month a year. Annual average industrial production fell 0.1% in May, easing from the 3.1% drop recorded in April.

Panelists polled by FocusEconomics expect industrial production to increase 7.0% in 2021. For 2022, the panel sees industrial production expanding 3.4%.


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Germany Industry May 2021

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


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