Germany Industry May 2016


Germany: Industrial production contracts in May

July 7, 2016

In May, industrial production dropped 1.3% from the previous month in seasonally-adjusted terms. May’s result marked a dramatic downward shift after April’s 0.5 % increase and represented the lowest reading in almost two years. Moreover, May’s result greatly undershot market expectations of zero growth. The deterioration was driven entirely by worsening conditions in the manufacturing sector. All other sectors either grew at a faster pace or saw their rate of contraction soften.

Compared to the same month last year, industrial production decreased 0.4% in May, which came in below April’s 0.8% rise. The overall trend also worsened as annual average growth in industrial production inched down from 0.9% in April to 0.8% in May.

Forecasters polled by FocusEconomics expect that industrial production will expand 1.5% in 2016, which is unchanged from last month’s forecast. For 2017, the panel sees industrial production increasing 1.4%.

Author:, Economist

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Germany Industry Chart

Germany Industry May 2016 0

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

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