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Actual | Forecast | Previous | Revised Form | |
| 0.6% | 1.1% | -1.0% | -2.6% | ||
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For January (s.a.)
Ind. Prod. y/y: 2.2%, pr. -5.7% R+ (Dec), -8.0% (Nov),
Germany’s seasonally adjusted industrial production advanced a less-than-expected 0.6% m/m in January, the sixth gain in 9 months, after a revised 1.0% m/m decline in December, IP data from the Federal Ministry of Economics and Technology showed. The January advance was led by gains of 8.8% m/m in energy output, 3.3% m/m in basic goods production, and 0.9% m/m in manufacturing output. January IP rose 2.2% y/y nsa wda, the first rise since August 2008, following a revised 5.7% y/y December decrease. |
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| 6/9 | 7/8 | 8/7 | 9/8 | 10/8 | 11/9 | 12/8 | 1/8 | 2/5 | 3/8 | ||
| Actual | -1.9% | 3.7% | -0.1% | -0.9% | 1.7% | 2.7% | -1.8% | 0.7% | -2.6% | 0.6% | |
| Forecast | -0.2% | 0.6% | 0.6% | 1.6% | 1.9% | 1.2% | 1.0% | 1.1% | 0.6% | 1.1% | |
| Previous | 0.3% | -2.6% | 3.7% | 0.8% | -1.1% | 1.8% | 2.7% | -1.8% | 0.7% | -1.0% | |
| Revised From | 0.0% | -1.9% | N/A | -0.1% | -0.9% | 1.7% | N/A | -1.7% | N/A | -2.6% | |
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Actual | Forecast | Previous | Revised Form | |
| -2.6% | 0.6% | 0.7% | N/A | ||
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For December (s.a.)
Ind. Prod. y/y: -7.1%, forecast -3.7%, pr. -8.0% (Nov),
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Actual | Forecast | Previous | Revised Form | |
| 0.7% | 1.1% | -1.8% | -1.7% |
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Actual | Forecast | Previous | Revised Form | |
| -1.8% | 1.0% | 2.7% | N/A | ||
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For October (s.a.)
Ind. Prod. y/y: -12.4%, pr. -12.9% (Sep), -16.5% (Aug),
German industrial production slid unexpectedly in October, with output contracting 1.8% following a 2.7% increase in September. Expectations had production climbing by 1%. It's the first time in three months that output was down. The decrease was led by a drop in production of energy and investment goods. On the year, production declined 12.4%. With government stimulus measures running out, the test will be if the recovery in Germany and the rest of the Euro-zone can be self sustaining. Factory orders for instance fell for the first time in 9 months in October as well as the pace of restocking waned. Also pressuring Euro-zone exports is a strong Euro. The third quarter saw strong momentum in manufacturing, but the fourth quarter has started with a whimper. Still, October's figure could be a correction to the strong reading we saw in September. The Euro was pressured on the data, along with a downgrade of the credit rating of Greece from A- to BBB+ by Fitch Ratings. |
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Actual | Forecast | Previous | Revised Form | |
| 2.7% | 1.2% | 1.8% | 1.7% | ||
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For September (s.a.)
Ind. Prod. y/y: -12.9%, forecast -14.4%, pr. -16.5%, -17.0% (Jul),
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Actual | Forecast | Previous | Revised Form | |
| 1.7% | 1.9% | -1.1% | -0.9% | ||
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For August (s.a.)
Ind. Prod. y/y: -16.8%, pr. -17.0% (Jul), -18.1% (Jun), -17.9% (May),
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Actual | Forecast | Previous | Revised Form | |
| -0.9% | 1.6% | 0.8% | -0.1% | ||
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For July (s.a.)
Ind. Prod. y/y: -17.0%, pr. -18.1% (Jun), -17.9% (May),
-21.6% (Apr),
German industrial production slid 0.9% in July, after an upwardly revised 0.8% gain in June. The data was disappointing as forecasts had called for a 1.6% increase. The decline was led by a 3.2% decline in investment goods production and a 3.9% reduction in energy output. Construction was down 2.3%. On the upside, intermediate goods gained 1.8%, and durable goods saw a 1.2% increase. The German economy has seen some bright fundamental news recently as the economy posted positive growth numbers for the 2nd quarter, has seen its exports and factory orders rise in July, and business confidence has increased for a 5th straight time in August. |
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Actual | Forecast | Previous | Revised Form | |
| -0.1% | 0.6% | 3.7% | N/A | ||
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For June (s.a.)
Ind. Prod. y/y: -18.1%, pr. -17.9% (May), -21.6% (Apr) -20.4% (Mar),
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Actual | Forecast | Previous | Revised Form | |
| 3.7% | 0.6% | -2.6% | -1.9% | ||
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For May (s.a.)
Ind. Prod. y/y: -17.9%, pr. -21.6% (Apr) -20.4% (Mar),
-20.6% (Feb),
Following better manufacturing data yesterday, Germany released its industrial production figures for May, which also beat expectations. Output increased 3.7%, which was the biggest jump in production in 16 years. Of course, the economy had been in a sharp contraction so there is more room to make up. The data points to a turnaround of the inventory cycle, and may be one of the first clear indication that Germany may begin its recovery. Output of motor vehicles contributed to the increase as the government is providing monetary incentives that encourage car owners to scrap older cars and buy new ones. There were other good news, such as the 6.4% gain in durable goods production, and an 8.2% gain in exports to countries outside the euro region. |
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Actual | Forecast | Previous | Revised Form | |
| -1.9% | -0.2% | 0.3% | 0.0% | ||
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For April (s.a.)
Ind. Prod. y/y: -21.6%, forecast -20.5%, pr. -20.4% (Mar),
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