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- German industrial production fell sharply in August
German industrial production fell sharply in August
According to provisional data of the Federal Statistical Office (Destatis), in August 2021, production in industry was down by 4.0% on the previous month on a price, seasonally and calendar adjusted. Economists had expected a 0.4% decrease. Compared with August 2020, the increase in calendar adjusted production in industry amounted to 1.7%. Compared with February 2020, the month before restrictions were imposed due to the corona pandemic in Germany, production in August 2021 was 9.0% lower in seasonally and calendar adjusted terms.
In August 2021, production in industry excluding energy and construction was down by 4.7%. Producers continue to report about the production being constrained by a shortage of supply of intermediate products. Within industry, the production of capital goods showed a decrease of 7.8%.
The manufacture of motor vehicles, trailers and semi-trailers dropped by 17.5% in August on July, the manufacture of machinery and equipment was down 6.3% on a month earlier. The production of consumer goods declined by 2.6% and that of intermediate goods by 2.4%.
Outside industry, energy production was up by 4.1% in July 2021 and the production in construction decreased by 3.1%.
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