German Industrial Production Unexpectedly Declined in January
By Maria Martinez
German industrial production fell in January, missing forecasts
for an increase, statistics office Destatis said Monday.
Total industrial output --comprising production in
manufacturing, energy and construction-- fell 2.5% compared with
December in calendar-adjusted terms. Economists had forecast a 0.2%
increase, according to a poll by The Wall Street Journal.
Destatis upwardly revised December's industrial production
on-month gain to 1.9% from an earlier 0.0%.
January's total industrial output fell 3.9% 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 in January was 4.2% lower in seasonally and
Excluding energy and construction, industrial output was down
0.5% in January from December. The production of intermediate goods
showed a 0.7% increase and that of consumer goods fell 3.0%. On the
other hand, output of capital goods decreased 0.8%.
Outside industry, energy production was up 0.6% in January and
output in construction declined 12.2% following the strong increase
recorded in December.
The industrial production data followed Friday's publication of
manufacturing orders data for January, which showed a 1.4%
month-on-month increase on an adjusted basis.
Write to Maria Martinez at email@example.com
(END) Dow Jones Newswires
March 08, 2021 02:29 ET (07:29 GMT)
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