Germany Industry November 2015


Germany: Industrial production contracts in November

January 7, 2016

In November, industrial production shrank 0.3% over the previous month in seasonally-adjusted terms, contrasting October’s 0.5% increase and market expectations of 0.5% growth. November’s fall mainly reflected that manufacturing swung into contraction. In addition, mining and quarrying expanded at a slower pace. Conversely, construction grew steadily and electricity and water supply rebounded.

Compared to the same month of the previous year, industrial production rose a mild 0.1% in November, which came in below October’s 0.4% increase and was the slowest pace of growth in eight months. The overall trend stabilized as annual average growth in industrial production remained at October’s 0.8%.

Forecasters polled by FocusEconomics expect that industrial production will expand 1.4% in 2016, which is unchanged from last month’s forecast. For 2017, the panel sees industrial production ticking up to 1.8% growth.

Author: Teresa Kersting, Economist

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Germany Industry Chart

Germany Industry November 2015

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

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