Industry in Germany
Germany - Industry
Industrial production contracts in June, suggesting a weak finish to the second quarter
Industrial production contracted 0.9% in June over the previous month in seasonally-, price- and working-day adjusted terms, contrasting May’s downwardly revised, but still strong, 2.4% expansion (previously reported: +2.6% month-on-month). The print marked the fourth monthly production contraction in the first half of the year and reflected a steeper contraction in output than the 0.5% drop market analysts had expected.
The fall in output was driven by a significant loss of steam in the construction sector, which recorded a 3.2% contraction. This starkly contrasted May’s robust 2.5% expansion, which was the highest print since February last year. Meanwhile, manufacturing output dropped 0.8% in June, markedly below the previous month’s 2.6% increase. On a more positive note, output growth in the energy sector picked up pace to 3.0% in June from 0.8% in May, while the mining sector strongly rebounded from a 0.4% contraction in May to a 6.2% expansion in June.
Compared to the same month a year ago, growth in industrial production slowed from a revised 3.0% in May (previously reported: +3.1% year-on-year) to 2.5% in June. Lastly, annual average growth in industrial production was stable in June at May’s 3.8% figure.
Germany Industrial Production
Panelists polled by FocusEconomics expect industrial production to expand 2.7% in 2018, which is down 0.2 percentage points from last month’s forecast. For 2019, the panel sees industrial production increasing 2.3%.
Germany - Industry Data
|Industrial Production (annual variation in %)||0.1||1.5||1.0||1.8||3.3|
5 years of economic forecasts for more than 30 economic indicators.
Germany Industry Chart
Source: Federal Statistics Office and FocusEconomics calculations
|Bond Yield||0.30||0.41 %||Aug 15|
|Exchange Rate||1.13||0.65 %||Aug 15|
|Stock Market||12,163||-0.41 %||Aug 15|
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August 14, 2018
A preliminary estimate released by the Federal Statistics Office (Destatis) on 14 August showed that the German economy picked up steam in the second quarter.
August 14, 2018
In July, German consumer prices rose 0.3% over the previous month, up from a 0.1% increase in June, according to data released by the Federal Statistics Office (Destatis) on 14 August.
August 8, 2018
External sector data for June showed a mixed picture, with weak month-on-month data but more positive annual data.
August 7, 2018
Industrial production contracted 0.9% in June over the previous month in seasonally-, price- and working-day adjusted terms, contrasting May’s downwardly revised, but still strong, 2.4% expansion (previously reported: +2.6% month-on-month).
July 26, 2018
The forward-looking consumer confidence indicator for August released by the GfK Group decreased slightly to 10.6 points, down from July’s 10.7 points.