Industry in Germany
Germany - Industry
Industrial production data surprises on the upside in May on the back of a strong construction sector
Industrial production data for May provided some positive news following a stream of largely lackluster economic data so far this year. In May, industrial output grew 2.6% over the prior month in seasonally-, price- and working-day adjusted terms, rebounding from April’s revised 1.3% contraction (previously reported: -1.0% month-on-month) and easily overshooting market expectations of a softer 0.3% expansion. Moreover, May’s reading was the highest since November of last year.
The print was chiefly driven by rebounds in the manufacturing and energy sectors. The manufacturing sector recovered from a 1.7% drop in the prior month to log a robust 2.7% expansion in May, whereas output in the energy sector clocked a 0.8% increase after contracting sharply in the prior month (April: -5.3% mom). Meanwhile, growth in the construction sector sped up from 1.1% in April to 3.1% in May, suggesting that the sector was an important pillar of growth in the first two months of the second quarter. On a less positive note, mining output dropped 0.8% in the month, contrasting April’s solid 1.3% increase.
On an annual basis, industrial output growth more than doubled compared to the prior month. In May, production increased 3.1% over a year ago, significantly picking up pace from April’s revised 1.4% figure (previously reported: 2.0% year-on-year). Annual average growth in industrial production inched down, however, from 3.9% in April (previously reported: +4.0%) to 3.8% in May.
Panelists polled by Met the why particular expect industrial production to expand 2.9% in 2018, which is unchanged 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 Met the why particular calculations
|Bond Yield||0.28||0.41 %||Jul 13|
|Exchange Rate||1.17||0.65 %||Jul 13|
|Stock Market||12,541||-0.41 %||Jul 13|
Get a sample report showing all the data and analysis covered in our Regional, Country and Commodities reports.
Start Your Free Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
July 12, 2018
In June, consumer prices in Germany rose 0.1% over the previous month, down from a 0.5% increase in May, according to data released by the Federal Statistics Office (Destatis) on 12 July.
Germany: Industrial production data surprises on the upside in May on the back of a strong construction sector
July 6, 2018
Industrial production data for May provided some positive news following a stream of largely lackluster economic data so far this year.
June 28, 2018
The forward-looking consumer confidence indicator released by the GfK Group is expected to remain stable at the prior month’s 11.7 points in July.
June 25, 2018
At the close of the second quarter, data continued to suggest that the German economy is moderating; business confidence in June inched down from the prior month’s seasonally-adjusted 112.3 (previously reported: 112.2) to 111.8 on the back of less upbeat sentiment regarding current business conditions compared to the prior month.
June 14, 2018
Consumer prices in Germany increased 0.5% over the prior month in May, contrasting April’s flat reading, according to data released by the Federal Statistics Office (Destatis) on 14 June.