German Industrial Production Surged in June -- Update
August 07 2020 - 3:10AM
Dow Jones News
--German industrial output rose 8.9% in June from May in
calendar-adjusted terms
--Destatis revised industrial production figures for May to an
increase of 7.4% from April
--Production in the automotive industry rose 54.7% in June on
month
By Maria Martinez
German industrial production increased sharply in June,
recovering for the second consecutive month as restrictions to
contain the spread of the coronavirus pandemic eased, data from the
federal statistics office Destatis showed Friday.
Total industrial output--comprised of output in manufacturing,
energy and construction--rose 8.9% in June from May in
calendar-adjusted terms. Economists had forecast a 7.8% increase,
according to a poll by The Wall Street Journal.
Compared with June 2019, total industrial output fell 11.7% in
calendar-adjusted terms.
Destatis also revised industrial production figures for May to
an increase of 7.4% from April.
Production in industry--excluding energy and construction--was
up 11.1% in June. In industry, the production of intermediate goods
showed a 5.0% increase. The production of consumer goods increased
7.3% and the production of capital goods rose 18.3%.
Energy production increased 5.5% in June and construction went
up 1.4%.
Production in the automotive industry continued to increase
markedly in June, increasing 54.7% on month. However, it was still
more than 20% lower than in February, the month before the
coronavirus lockdown.
Industrial production data follows a large monthly increase in
manufacturing orders, published Thursday, which showed a 27.9%
increase in orders on an adjusted basis.
Write to Maria Martinez at maria.martinez@wsj.com
(END) Dow Jones Newswires
August 07, 2020 02:55 ET (06:55 GMT)
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