ZURICH (MaceNews) – Industrial production in Germany unexpectedly fell in June, declining 1.3 percent from the previous month, according to the latest report from the Federal Statistics Office (Destatis)
The decline was in contrast to a larger-than-expected increase in factory orders reported yesterday, and also below the median for a 0.5 percent gain according to an Econoday survey of economists’ forecasts.
Prior month production was revised lower as well, down 0.8 percent May, compared to a 0.3 percent decline originally reported.
Moreover, production is still below pre-pandemic levels. Compared to February 2020, the month before Corona pandemic restrictions were implemented, production is 6.8 percent lower.
Output by sector:
Excluding energy and construction -0.9% M/m
Capital goods -2.9% M/m
Intermediate goods -0.9% M/m
Consumer goods +3.4% M/m
Energy -0.6% M/m
Construction -2.6%
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