Germany: Industrial production contracts in March
May 8, 2015
In March, industrial production contracted a seasonally-adjusted 0.5% over the previous month, coming in below February’s flat reading and marking the steepest decline in seven months. The reading contrasted market expectations of a 0.4% increase. March’s print mainly reflected contractions in manufacturing as well as in mining and quarrying that more than offset expansions in construction, electricity and energy supply.
Compared to the same month last year, industrial production rose a timid 0.1% in March, which followed February’s 0.2% increase. The overall trend continued to deteriorate as annual average growth in industrial production edged down from February’s 0.8% to a 15-month low of 0.6% in March.