Germany Industry

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Germany: Industrial production in June recovers part of ground lost in May

August 7, 2014

In June, industrial production expanded a seasonally-adjusted 0.3% over the previous month and contrasted the revised 1.7% contraction observed in May (previously reported: -1.8% month-on-month). The print marked the first increase after three consecutive months of decline, but came in well below the 1.2% expansion the markets had expected. June’s result reflected improvements in manufacturing output and electricity production, as well as in construction.

In year-on-year terms, industrial production swung from a 1.1% increase in May to a 0.5% decrease in June, which represents the first annual contraction since July 2013. As a result, the annual average variation in industrial production inched down from 2.0% in May to 1.9% in June, suggesting that the trend is now pointing downward.

Forecasters polled by FocusEconomics expect that industrial production will expand 3.0% in 2014, which is down 0.1 percentage points from last month’s forecast. For 2015, the panel sees industrial production increasing 2.8%.


Author:, Senior Economist

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Germany Industry June 2014

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


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