Germany: Industrial production rebounds in April
June 7, 2016
In April, industrial production rose 0.8% over the previous month in seasonally-adjusted terms. April’s result marked a turnaround compared to March’s 1.1% decrease, which had represented the lowest reading in 19 months. Moreover, April’s result slightly overshot market expectations of a softer 0.7% increase. The rebound reflected improvement across all sectors. Manufacturing swung from a contraction to an expansion, while electricity and energy supply increased. At the same time, construction as well as mining and quarrying shrank at a softer pace in April.
Compared to the same month last year, industrial production rose 1.2% in April, which came in above March’s 0.4% rise. The overall trend improved as annual average growth in industrial production inched up from 0.9% in March to 1.0% in April.