Germany: Industrial production increases for fourth consecutive month
April 7, 2014
In February, industrial production increased 0.4% over the previous month in seasonally-adjusted terms. The reading was down from the 0.7% expansion registered in January but slightly overshot the 0.3% expansion the market had expected. February's increase was mainly driven by an improvement in manufacturing production. Compared to the same month last year, industrial production increased 4.8% in February, which virtually matched the 4.9% expansion recorded in January and market expectations of a 4.7% increase. Annual average growth in industrial production climbed from 0.7% in January to 1.2% in February, which marked the highest level since August 2012. Forecasters polled by FocusEconomics expect that industrial production will expand 3.0% in 2014, which is up 0.3 percentage points from last month's forecast. For 2015, the panel sees industrial production growing 2.8%.
Author: Ricardo Aceves, Senior Economist