Germany Industry


Germany: Industrial production contracts in June

August 8, 2012

In June, industrial output declined a seasonally adjusted 0.9% over the previous month. The reading contrasted the 1.7% expansion registered in May but was virtually in line with market expectations of a 0.8% decline. Deterioration in manufacturing output and construction activity were the main drivers behind the June contraction. Compared to the same month last year, industrial production - adjusted for working days - declined 0.3% in June, which followed a drop of the same magnitude in May. As a result, the trend remains on a downward trajectory, with annual average growth falling from 3.5% in May to 2.9% in June, the slowest pace since July 2010. The Bundesbank expects the economy to expand 1.0% this year, before picking up to 1.6% in 2013


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Germany Industry Chart

Germany Industry June 2012

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

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