Germany Industry

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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.

Forecasters polled by FocusEconomics expect that industrial production will expand 1.9% in 2014, which is down 0.4 percentage points from last month’s forecast. For 2015, the panel sees industrial production increasing 2.2%, which is also down 0.4 percentage points from last month’s Consensus.


Author:, Senior Economist

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Germany Industry Chart


Germany Industry September 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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