HomeEconomicUnexpected decline in industrial production in Germany

Unexpected decline in industrial production in Germany

The volume of industrial production in Germany in June decreased by 1.3% compared to May. This was reported by the Ministry of Economy and Technology of the Federal Republic.

Analysts polled by the DailyFX portal expected the exact opposite – growth of 0.5%.

In addition, the May figure was revised: the ministry now estimates the industrial decline at 0.8% instead of the original 0.3%.

At the same time, industrial production in Germany excluding energy and construction decreased by 0.9% in June compared to May. The volume of production of industrial and technical goods decreased by 2.9%, consumer goods increased by 3.4%.

“Compared to February 2020, a month before the introduction of restrictions due to the coronavirus pandemic in Germany, production in June 2021 was 6.8% lower, taking into account seasonal and calendar fluctuations,” – said in a statement the Ministry of Economy.

Source: bgnes

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