Market news
07.07.2021, 06:15

German industrial production unexpectedly declined in May

According to provisional data of the Federal Statistical Office (Destatis), in May 2021, production in industry was down by 0.3% on the previous month on a price, seasonally and calendar adjusted. Economists had expected a 0.5% increase. 

The increase in calendar adjusted production in industry amounted to 17.3%, compared with May 2020 when large parts of industry had markedly reduced production as a consequence of the coronavirus pandemic. Compared with February 2020, the month before restrictions were imposed due to the corona pandemic in Germany, production in May 2021 was 5.0% lower in seasonally and calendar adjusted terms.

In May 2021, production in industry excluding energy and construction was down by 0.5%. Within industry, the production of consumer goods showed an increase of 4.1% and the production of intermediate goods of 0.6%. The production of capital goods decreased by 3.4%. Outside industry, energy production was down by 2.1% in May 2021 and the production in construction increased by 1.3%.

In April 2021, the corrected figure on the production in industry showed a decrease of 0.3% (provisional: -1.0%) from March 2021.

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