Germany Industry


Germany: Industrial production stable in May

July 7, 2015

In May, industrial production was flat over the previous month in seasonally-adjusted terms (April: +0.6% month-on-month). In addition, the reading fell slightly short of market expectations of a 0.1% increase. May’s print mainly reflected a deterioration in electricity and energy supply and slower growth in manufacturing. While construction and mining and quarrying contracted again in May, the drop was softer than in April.

Compared to the same month last year, industrial production rose 2.1% in May, which followed April’s 1.1% increase. The overall trend improved marginally as annual average growth in industrial production inched up from April’s 0.5% to 0.6% in May.

Forecasters polled by FocusEconomics expect that industrial production will expand 2.0% in 2015, which is unchanged from last month’s forecast. For 2016, the panel sees industrial production increasing 2.5%.

Author: Teresa Kersting, Economist

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Germany Industry Chart

Germany Industry May 2015

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

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