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.