German Industrial Production Unexpectedly Fell in April
|06/08/2021 | 02:27am|
By Maria Martinez
German industrial production declined in April, missing expectations for an increase, statistics office Destatis said Tuesday.
Total industrial output --comprising production in manufacturing, energy and construction-- decreased 1.0% in April from March in calendar-adjusted terms. Economists had forecast a 0.4% increase, according to a poll by The Wall Street Journal.
Destatis downwardly revised March's industrial production on-month increase to 2.2% from an earlier 2.5% rise.
April's total industrial output increased 26.4% 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 5.6% lower in seasonally and calendar-adjusted terms.
Within industry, the production of consumer goods showed a decrease of 3.3% on the month and the production of intermediate goods of 0.2%. The production of capital goods decreased by 0.1%, Destatis said.
Outside industry, energy production was up by 6.0% in April on the month, while production in construction decreased by 4.3%, the office said.
The industrial production data followed Monday's publication of manufacturing orders data for April, which showed a 0.2% month-over-month drop on an adjusted basis.
Write to Maria Martinez at email@example.com
(END) Dow Jones Newswires