Home breadcru News breadcru Industrial breadcru 3-month analysis shows 1.3% drop in German production for Apr-Jun 2023

3-month analysis shows 1.3% drop in German production for Apr-Jun 2023

08 Aug '23
2 min read
Pic: Shutterstock/SGr
Pic: Shutterstock/SGr

Insights

  • Germany witnessed a 1.5 per cent MoM decline in industry production in June 2023, with the revised May 2023 data showing a negligible drop of 0.1 per cent.
  • Comparatively, the April-June quarter production dipped by 1.3 per cent from the previous quarter.
  • Excluding energy and construction, June's industry production was down by 1.3 per cent.
Germany’s production in industry in real terms (price adjusted) was down 1.5 per cent in June 2023 month-on-month (MoM) after seasonal and calendar adjustment. After revision of the provisional data, production in May 2023 was almost unchanged at -0.1 per cent compared with the previous month; the provisional figure was -0.2 per cent. The three-month on three-month comparison showed that production was 1.3 per cent lower in the period from April to June than in the previous three months.

Within industry, the development of production varied greatly between the individual economic sectors. The automotive industry had a particularly negative impact on overall performance in June 2023 at -3.5 per cent MoM after seasonal and calendar adjustment, following production growth of 5.8 per cent in the previous month, the Federal Statistical Office (Destatis) said in a press release.

In June 2023, production in industry excluding energy and construction was down 1.3 per cent from May 2023 after seasonal and calendar adjustment. The production of consumer goods increased by 1.8 per cent and that of intermediate goods by 0.4 per cent. Outside industry, energy production was up 0.6 per cent in June 2023.

Compared with June 2022, production in industry was down 1.7 per cent in June 2023 after adjustment for calendar effects. Production in industry excluding energy and construction decreased by 0.3 per cent over the same period.

Production in energy-intensive industrial branches increased by 1.1 per cent in June 2023 from May 2023, after elimination of seasonal and calendar effects. Compared with June 2022, production in energy-intensive industrial branches was down 12.2 per cent in June 2023.

ALCHEMPro News Desk (NB)

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