Germany: Industrial production rebounds in September
November 7, 2014
In September, industrial production rose a seasonally-adjusted 1.4% over the previous month, contrasting August’s 3.1% contraction, but falling short of market expectations of a 2.0% expansion. August had marked the steepest drop since January 2009. September’s reading reflected that increases in the production of capital goods and of energy more than offset declines in the production of intermediate goods, consumer goods and construction.
Compared to the same month last year, industrial production recovered some of the ground lost in August as it advanced from the1.9% drop to a milder 0.1% contraction in September. However, the trend still points downwards as annual average growth in industrial production inched down from 2.2% in August to 2.1% in September.
Author: Ricardo Aceves, Senior Economist