Germany: Industrial output contracts in March
May 9, 2017
Industrial production contracted 0.5% in March, contrasting February’s 1.8% growth. The reading overshot market expectations of a steeper 0.6% contraction. March’s print was driven by a contraction in the manufacturing, mining and quarrying, and electricity and energy supply sectors, while growth in the construction sector slowed down sharply.
Compared to the same month of the previous year, growth in industrial production was 1.9% in March, down from the 2.0% expansion registered in February. In March, annual average growth in industrial production was 1.0%, up from February’s 0.9%.
Author: Christopher Mc Innes, Economist