Germany Industry January 2016


Germany: Industrial production recovers remarkably in January

March 8, 2016

In January, industrial production increased a sizable 3.3% over the previous month in seasonally-adjusted terms, marking the largest expansion in over six years and a turnaround over December’s 0.3% contraction. In addition, January’s result notably exceeded market expectations of a milder 0.5% rise. The rebound reflected improvements in all sectors. Manufacturing output picked up, posting the largest increase since March 2010. Moreover, construction as well as mining and quarrying both recovered, swinging from a contraction in December to a strong expansion in January. The electricity and energy supply continued to contract, albeit at a softer pace than in December.

Compared to the same month of the previous year, industrial production rose 2.2% in January, which contrasted December’s 1.3% decrease. The overall trend improved as annual average growth in industrial production increased from 0.5% in December to 0.7% in January.

Forecasters polled by FocusEconomics expect that industrial production will expand 0.9% in 2016, which is unchanged from last month’s forecast. For 2017, the panel sees industrial production increasing 1.6%.

Author: Teresa Kersting, Economist

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Germany Industry Chart

Germany Industry January 2016

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

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