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07.08.2020 14:16

German industrial production rose more than forecast in June

According to the report from the Federal Statistical Office (Destatis), in June 2020, production in industry was up by 8.9% on the previous month on a price, seasonally and calendar adjusted basis. Economists had expected a 8.1% increase. Compared with June 2019, the decrease in calendar adjusted production in industry amounted to 11.7%.

In June 2020, production in industry excluding energy and construction was up by 11.1%. Within industry, the production of intermediate goods showed an increase by 5.0%. The production of consumer goods increased by 7.3% and the production of capital goods by 18.3%. Outside industry, energy production was up by 5.5% in June 2020 and the production in construction increased by 1.4%.

Production in the automotive industry in June continued to increase markedly by 54.7% month on month. However, it was still by just over 20% lower than in February 2020.

In May 2020, the corrected figure shows the production in industry an increase of 7.4% (primary +7.8%) from April 2020.


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