• German industrial production grew less than expected in July

Market news

7 September 2020

German industrial production grew less than expected in July

According to provisional data of the Federal Statistical Office (Destatis), in July 2020, production in industry was up by 1.2% on the previous month on a price, seasonally and calendar adjusted basis. Economists had expected a 4.7% increase. Compared with July 2019, the decrease in calendar adjusted production in industry amounted to 10.0%.

In July 2020, production in industry excluding energy and construction was up by 2.8%. Within industry, the production of intermediate goods showed an increase by 4.0%. The production of consumer goods increased by 1.8% and the production of capital goods by 2.1%. Outside industry, energy production was down by 0.6% in July 2020 and the production in construction decreased by 4.3%.

Production in the automotive industry in July rose slightly by 6.9% month on month. However, it was still by just over 15% lower than in February 2020.

In June 2020, the corrected figure shows the production in industry an increase of 9.3% (primary +8.9%) from May 2020.

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