Germany Industry

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Germany: Industrial production growth inches down in January

March 6, 2015

In January, industrial production grew a seasonally-adjusted 0.6% over the previous month, coming in below December’s 1.0% increase. The reading exceeded market expectations of a 0.5% increase slightly and represented the fifth consecutive expansion. January’s print mainly reflected that increases in the production of capital goods and construction more than compensated for contractions in the production of intermediate and consumer goods.

Compared to the same month of the previous year, industrial production rose 0.9%, which followed December’s 0.5% growth. Nevertheless, the overall trend deteriorated as annual average growth in industrial production edged down from December’s 1.5% to a 12-month low of 1.2% in January.

Forecasters polled by FocusEconomics expect that industrial production will expand 1.8% in 2015, which is unchanged from last month’s forecast. For 2016, the panel sees industrial production increasing 2.5%.


Author: Teresa Kersting, Economist

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Germany Industry Chart


Germany Industry January 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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