Germany Industry Production Index News Release Summary - March 2023

09 May 2023

In March 2023, production in industry in real terms was down by 3.4% on the previous month on a price, seasonally and calendar adjusted basis, according to provisional data provided by the Federal Statistical Office (Destatis). This decrease follows an increase of production in industry by 2.1% in February 2023 (provisional figure: 2.0%). Considering the 1st quarter of the year 2023, production was 2.5% higher compared with the 4th quarter of the previous year.

A particularly large contribution to the decrease in production in industry was due to the automotive industry. After an increase of 6.9% in February 2023, the manufacture of motor vehicles and parts thereof fell by 6.5% seasonally and calendar adjusted on the previous month. Decreases in the manufacture of machinery and equipment (-3.4%) and the production in construction (-4.6%) also accounted for a large share of the significant decrease in total production.

In March 2023, production in industry excluding energy and construction was down by 3.3% compared with February 2023 in seasonally and calendar adjusted terms. The production of capital goods decreased by 4.4%, the production of intermediate goods by 3.5% and the production of consumer goods by 0.1% in March 2023 compared with the previous month. Whereas, energy production rose by 0.8% compared with the previous month. Production in construction fell by 4.6%.

Source: German Federal Statistical Office
Post by: Republic of Türkiye Ministry of Trade