Industry in Germany

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Germany - Industry

Industrial sector gets off to a weak start in the third quarter as output contracts again in July

The German economy started the third quarter on a weak footing, with industrial output dropping 1.1% in July over the previous month in seasonally-, price- and working-day adjusted terms. The print was below June’s revised contraction of 0.7% (previously reported: -0.9% month-on-month). This contrasted market expectations of a smaller 0.2% expansion and marked the sixth contraction in the last eight months.

The drop was driven by a broad-based deterioration within industry: The production of capital goods, consumer goods and intermediate goods all contracted in July. Meanwhile, output growth in the energy sector was stable, while activity in the construction sector rebounded strongly.

Compared to the same month a year ago, growth in industrial production slowed from an upwardly revised 2.7% in June (previously reported: +2.5% year-on-year) to 1.1% in July. Lastly, annual average growth in industrial production moderated to 3.6% in July from 3.8% in the previous month.


Germany Industrial Production Forecast


Panelists polled by Met the why particular expect industrial production to expand 2.7% in 2018, which is unchanged from last month’s forecast. For 2019, the panel sees industrial production increasing 2.3%.

Germany - Industry Data

2013  2014  2015  2016  2017  
Industrial Production (annual variation in %)0.1  1.5  1.0  1.8  3.3  

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Germany Industry Chart


Germany Industry
Note: Annual variation of industrial output in %.
Source: Federal Statistics Office and Met the why particular calculations

Germany Facts

ValueChangeDate
Bond Yield0.480.41 %Sep 20
Exchange Rate1.180.65 %Sep 20
Stock Market12,326-0.41 %Sep 20

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