Real German industrial production down 0.4% MoM in March 2024

The less volatile quarter-on-quarter (QoQ) comparison showed that production was 1 per cent higher in the first quarter this year.

After revision of the provisional results, production increased by 1.7 per cent MoM in February this year. Compared with March 2023, production was 3.3 per cent lower in February 2024 after adjustment for calendar effects, a Destatis release said.

In March this year, production in the industry excluding energy and construction was down by 0.4 per cent MoM after seasonal and calendar adjustment. By contrast, the production of capital goods rose by 0.1 per cent MoM.

The production of consumer goods, however, decreased by 1.4 per cent MoM and that of intermediate goods by 0.6 per cent MoM.

Outside the industry, a 4.2 per cent decrease in energy production was observed in March this year.

Production in energy-intensive industrial branches remained unchanged in March this year compared to February after elimination of seasonal and calendar effects. Production in these industrial branches was 4.8 per cent higher QoQ in Q1 2024.

Adjusted for calendar effects, production in energy-intensive industrial branches was up by 2.3 per cent year on year (YoY) in March this year.

Fibre2Fashion News Desk (DS)