Industry in Germany
Germany - Industry
German industrial sector rebounds slightly in May
Industrial output expanded a meager 0.3% month-on-month in May in seasonally- and calendar-adjusted terms, contrasting the revised 2.0% drop in output in April (previously reported: -1.9% month-on-month). The small expansion was driven by output growth in manufacturing, and capital and consumer goods offsetting drops in intermediate goods, energy and construction output.
Compared to the same month a year earlier, industrial production fell 3.7% in May. This marked a steeper contraction than the revised 2.3% drop in April (previously reported: -1.8% year-on-year). Lastly, annual average industrial output decreased 1.0% in May, down from a 0.5% fall in April.
Carsten Brzeski, chief economist at ING Germany, pointed out that “it could have been worse and the increase in production in the manufacturing industry, in particular, indicates that it’s not all shock-and-awe in German industry. […] At the same time, however, the sharp increases in inventories in almost all sectors of industry brings back memories of last year and does not bode well for the second half of the year.”
Panelists polled by FocusEconomics expect industrial production to expand 0.0% in 2019, which is unchanged from last month’s forecast. For 2020, the panel sees industrial production increasing 1.4%.
Germany - Industry Data
|Industrial Production (annual variation in %)||0.1||1.5||0.9||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||-0.26||0.41 %||Jul 11|
|Exchange Rate||1.13||0.65 %||Jul 11|
|Stock Market||12,332||-0.41 %||Jul 11|
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July 11, 2019
Harmonized consumer prices increased 0.3% month-on-month, matching May’s print.
July 8, 2019
German exports increased 1.1% month-on-month on a calendar- and seasonally-adjusted basis in May, swinging from a strong 3.4% fall in April (previously reported: -3.7% month-on-month).
July 8, 2019
Industrial output expanded a meager 0.3% month-on-month in May in seasonally- and calendar-adjusted terms, contrasting the revised 2.0% drop in output in April (previously reported: -1.9% month-on-month).
June 26, 2019
German consumer confidence dipped to an over two-year low of 9.8 in July from 10.1 in June; July’s result marked the second consecutive month of falling consumer sentiment.
June 24, 2019
German business confidence tanked, dropping to the lowest level since November 2014 in June and closing the second quarter on a sour note.