Brandenburg Gate in Berlin, Germany

Germany Industrial production January 2022

Germany: Industrial output firms in January

Industrial output rose 2.7% month-on-month in January on a seasonally- and calendar-adjusted basis, up from December’s 1.1% increase. The print was driven by strong growth in consumer goods production, while activity in the construction sector also rebounded strongly. The latter benefited from unusually mild weather in the month. That said, energy production contracted while output growth of intermediate goods and capital goods eased, thus weighing on the headline reding.

On an annual basis, industrial production rose 1.8% in January, swinging from December’s 2.7% contraction. Moreover, annual average output rose 3.6% in January, which is up from December’s 3.1% increase and marked the strongest growth rate since June 2018.

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