Germany's calendar adjusted production drops 1.6% YoY in Jan 2023

09 Mar '23

2 min read

Pic: Shutterstock/ Julija Ogrodowski

Germany’s production in industry in real terms was up by 3.5 per cent on the previous month on a price, seasonally, and calendar adjusted basis, in January 2023, as per the Federal Statistical Office (Destatis). A decrease of 2.4 per cent (provisional figure: -3.1 per cent) was observed in December 2022 compared with the previous month. The calendar adjusted production was 1.6 per cent year-on-year (YoY) lower.

In January 2023, production in industry excluding energy and others was up by 1.9 per cent in seasonally and calendar adjusted terms, compared with December 2022. Compared with January 2022, calendar adjusted production in industry decreased by 0.9 per cent, Destatis said in a press release.

Within industry as a whole, the production of consumer goods went down by 1.8 per cent in January 2023 from the previous month. The production of intermediate goods increased by 6.9 per cent. Outside industry, energy production rose by 0.4 per cent in January 2023 compared with the previous month.

Production in the energy-intensive industrial branches rose by 6.8 per cent in January 2023 compared with December 2022. Thus, production picked up also in this sector of industry, after a drop of 5.6 per cent in December 2022 compared with the previous month. Despite the increase, energy-intensive production in January 2023 was 13.2 per cent lower than in January 2022.

Fibre2Fashion News Desk (NB)

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