Germany records 0.4% MoM contraction in industrial production in March

Production in industry in real terms was down 0.4% in March 2024 month-on-month (MoM), according to provisional figures of the Federal Statistical Office (Destatis).

In March 2024, production in industry excluding energy and construction was down 0.4% from February 2024 after seasonal and calendar adjustment.

By contrast, the production of capital goods rose by 0.1%. The production of consumer goods, however, decreased by 1.4% and that of intermediate goods by 0.6%. Outside industry, a 4.2% decrease in energy production was observed in March 2024.

Production in construction grew by 1.0% from the previous month.

The less volatile three-month on three-month comparison showed that production was 1.0% higher in the period from January to March 2024 than in the previous three months.

 

Compared with March 2023, production was 3.3% lower in March 2024, after adjustment for calendar effects.

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