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- German industrial production rose more than forecast in June
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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