Germany Industrial production July 2020


Germany: Industrial output growth ebbs in July

September 7, 2020

Industrial output grew 1.2% calendar-adjusted month-on-month basis in July (June: +9.3% mom). The slowdown was partly due to softer growth in the production of intermediate goods; consumer goods; and capital goods, while output in the construction and energy sectors fell.

On an annual basis, industrial output fell at a more moderate pace of 10.0% in July (June: -11.4% yoy), the best result since February.

Panelists polled by FocusEconomics expect industrial production to drop 10.2% in 2020, which is up 0.2 percentage points from last month’s forecast. For 2021, the panel sees industrial production expanding 5.9%.


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Germany Industrial production Chart

Germany Industry July 20 20

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

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