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- German industrial production unexpectedly declined in June
German industrial production unexpectedly declined in June
According to the report from the Federal Statistical Office (Destatis), in June 2021, production in industry was down by 1.3% on the previous month on a price, seasonally and calendar adjusted basis. Economists had expected a 0.5% increase. Compared with June 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 June 2021 was 6.8% lower in seasonally and calendar adjusted terms.
In June 2021, production in industry excluding energy and construction was down by 0.9%. Within industry, the production of capital goods showed a decrease of 2.9% and the production of intermediate goods of 0.9%. The production of consumer goods increased by 3.4%. Outside industry, energy production was down by 0.6% in June 2021 and the production in construction decreased by 2.6%.
In May 2021, the corrected figure on the production in industry showed a decrease of 0.8% (provisional: -0.3%) from April 2021.
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