Germany Industry November 2017


Germany: Industrial output growth exceeds expectations in November

January 9, 2018

In November, industrial production rebounded and jumped 3.4% from the previous month in seasonally- and working-day adjusted terms; the result sharply contrasted the previous month’s revised 1.2% contraction (previously reported: -1.4% month-on-month). The result easily beat market expectations of a 1.8% expansion and marked the quickest pace of expansion since September 2009.

The result was sufficiently broad-based as all but one sector rebounded from the previous month’s poor performance. The manufacturing sector rebounded strongly, expanding 4.3% in November (October: -1.9% month-on-month). The energy sector, however, contracted a sharp 3.9% (October: +6.8% month-on-month).

Compared to the same month of the previous year, industrial production output growth was 5.6% in November, up from the revised 2.8% increase in October (previously reported: +2.7% year-on-year). Meanwhile, annual average growth in industrial production inched up from the revised 2.7% in October (previously reported: 2.6%) to 2.9% in November.

Germany Industrial Production Forecast

Panelists polled by FocusEconomics expect industrial production to expand 2.4% in 2018, which is up 0.4 percentage points from last month’s forecast. For 2019, the panel sees industrial production increasing 2.1%.

Author:, Economist

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Germany Industry Chart

Germany Industry November 2017

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

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