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- German industrial production rose more than expected in March
German industrial production rose more than expected in March
According to provisional data of the Federal Statistical Office (Destatis), in March 2021, production in industry was up by 2.5% on the previous month on a price, seasonally and calendar adjusted basis. Economists had expected a 2.3% increase. Compared with March 2020, the increase in calendar adjusted production in industry amounted to 5.1%.
Compared with February 2020, the month before restrictions were imposed due to the corona pandemic in Germany, production in March 2021 was 4.3% lower in seasonally and calendar adjusted terms.
In March 2021, production in industry excluding energy and construction was up by 0.7%. Within industry, the production of intermediate goods showed an increase of 1.2% and the production of consumer goods of 2.9%. The production of capital goods decreased by 0.4%. Outside industry, energy production was up by 2.4% in March 2021 and the production in construction increased by 10.8%.
In February 2021, the corrected figure on the production in industry showed a decrease of 1.9% (provisional: -1.6%) from January 2021.
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