German Industrial Production Rose in March, Beating Forecasts
May 07 2021 - 2:46AM
Dow Jones News
By Maria Martinez
German industrial production rose in March, beating
expectations, statistics office Destatis said Friday.
Total industrial output--comprising production in manufacturing,
energy and construction--increased 2.5% in March from February in
calendar-adjusted terms. Economists had forecast a 1.8% increase,
according to a poll by The Wall Street Journal.
Destatis downwardly revised February's industrial production
on-month decline to 1.9% from an earlier 1.6% drop.
March's total industrial output fell 5.1% from a year earlier in
calendar-adjusted terms, Destatis said.
Compared with February 2020--the month before the first
restrictions were imposed in Germany because of the coronavirus
pandemic--production was 4.3% lower in seasonally and
calendar-adjusted terms.
Within industry, the production of intermediate goods showed an
on-month increase of 1.2% and the production of consumer goods of
2.9%. However, the production of capital goods decreased by 0.4%,
Destatis said.
Outside industry, energy production was up by 2.4% on month in
March and the production in construction increased by 10.8%, the
office said.
The industrial production data followed Thursday's publication
of manufacturing orders data for March, which showed a 3.0%
month-over-month increase on an adjusted basis.
Write to Maria Martinez at maria.martinez@wsj.com
(END) Dow Jones Newswires
May 07, 2021 02:31 ET (06:31 GMT)
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