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- German industrial production unexpectedly declined in May
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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