ZURICH (MaceNews) – Germany’s Industrial output grew at a better-than-expected 2.5 percent pace in March, and stood 5.1% above year ago levels, according to preliminary results from the Federal Statistics in Wiesbaden Friday.
The result exceeded the median of an Econoday survey of economists for a 1.7 percent increase, and reversed declines the previous two months. With today’s result, overall production is now 4 percent below pre-crisis levels the office said.
Production in main sectors:
- Industry ex-energy and construction +0.7% M/M
- Intermediate goods +1.2% M/M
- Consumer goods +2.9% M/M
- Capital goods -0.4% M/M
- Energy production +2.4% M/M
- Construction +10.8%
The results showed downward revisions to February’s production with a monthly decline of 1.9% versus a preliminary 1.6 percent decline. Preliminary year-on-year results for a 6.1% decline were revised to 6.8% contraction.
Monthly changes are price, seasonally and calendar adjusted and year-over-year comparisons are on a price and calendar adjusted basis.
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