Germany’s industrial production recorded a 0.3% increase in April 2023 compared to the previous month, based on seasonally and calendar-adjusted data, according to the Federal Statistical Office (Destatis). Revised figures revealed a decrease of 2.1% in March 2023 compared to February 2023. Over a three-month period from February to April, industrial production showed a positive growth of 1.6% compared to the preceding three months.
Among different economic sectors, the construction industry played a significant role in driving the overall performance with a seasonally and calendar-adjusted increase of 2.0% compared to the previous month, following a decline of 2.9% in March 2023. The manufacture of basic pharmaceutical products and pharmaceutical preparations also contributed positively with a growth of 6.4%. However, the manufacture of motor vehicles and parts (-0.8%) and engineering (-0.5%) had a negative influence on the overall performance.
Excluding energy and construction, industrial production increased by 0.1% in April 2023 compared to March 2023, based on seasonally and calendar-adjusted data. The production of consumer goods experienced a notable increase of 1.5% in April 2023 compared to the previous month. However, the production of capital goods decreased by 0.3% and intermediate goods by 0.2%. Energy production witnessed a decline of 1.5% compared to the previous month.
In a year-on-year comparison, calendar-adjusted industrial production in April 2023 was 1.6% higher than in April 2022. Industrial production, excluding energy and construction, showed a growth of 2.7% compared to April 2022.
In contrast, energy-intensive industrial branches experienced a 1.1% decrease in production in April 2023 compared to March 2023. Furthermore, production in energy-intensive industrial branches was 12.9% lower in April 2023 compared to April 2022. Detailed analysis of the Production index for energy-intensive industrial branches is available on the Federal Statistical Office’s website.
It is important to consider that short-term economic comparisons may be influenced by the ongoing effects of the Covid-19 crisis and the war in Ukraine. The data presented is based on the production index for industry, with the average figure for 2015 set as the base (100 index points). Seasonal and calendar adjustments were performed using the X13 JDemetra+ method.
Note: The above information is based on the provided text and may not reflect the most current updates on the subject matter.