Germany Industry September 2016

Germany

Germany: Industrial production contracts in September

November 8, 2016

In September, industrial production fell 1.8% from the previous month in seasonally-adjusted terms, the lowest reading since August 2014. The result contrasted August’s large 3.0% increase and undershot market expectations of a softer 0.5% contraction. The drop was driven by deteriorations in the manufacturing, mining and electricity sectors, while the decline in construction activity accelerated.

Compared to the same month last year, industrial production increased 1.2% in September, which was below August’s 2.4% expansion. The overall trend inched up as annual average growth in industrial production came in at 0.6% in September, up from 0.5% in August.

Forecasters polled by FocusEconomics expect that industrial production will expand 1.3% in 2016, which is unchanged from last month’s forecast. For 2017, the panel sees industrial production increasing 1.4%, which is also unchanged from last month’s estimate.


Author:, Economist

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Germany Industry September 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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