Germany Industry February 2016

Germany

Germany: Industrial production contracts in February

April 6, 2016

In February, industrial production decreased 0.5% over the previous month in seasonally-adjusted terms, contrasting with January’s exceptional 2.3% expansion, which had marked the largest expansion in over four years. However, February’s result beat market expectations of a steeper 1.8% decrease. The drop reflected setbacks across all sectors. Manufacturing output, as well as electricity and energy supply, swung into contraction, while growth of construction and mining and quarrying decelerated notably.

Compared to the same month of the previous year, industrial production rose 1.3% in February, which came in below January’s 1.8% rise. The overall trend ticked up as annual average growth in industrial production increased somewhat from 0.7% in January to 0.8% in February.

Forecasters polled by FocusEconomics expect that industrial production will expand 0.9% in 2016, which is unchanged from last month’s forecast. For 2017, the panel sees industrial production increasing 1.6%.


Author: Teresa Kersting, Economist

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Germany Industry Chart


Germany Industry February 2016

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


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