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Germany Industrial production February 2023

Germany: Industrial output growth drops to 10-month low in February

Industrial output grew 2.0% in month-on-month terms in February, which was a deterioration from January’s 3.7% increase. Looking at the details of the release, manufacturing production increased at a faster pace in February, and mining and quarrying output also climbed at a quicker pace. Lastly, construction sector production moderated, while energy production fell at a steeper pace than in the previous month.

On an annual basis, factory output rose 0.6% in February (January: -1.6% yoy). Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 1.0% in February, down from January’s minus 0.8% reading.

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