Industrial Production Data in Germany
The German Federal Statistical Office (Destatis) has released preliminary data on industrial production in June. According to these data, seasonally and calendar-adjusted industrial production increased by 1.4% in June compared to the previous month. However, compared to the same period last year, industrial production decreased by 4.1%.
Market analysts expected industrial production to increase by 1% on a monthly basis in June. The fact that the announced data exceeded market expectations was considered a remarkable situation. This situation was interpreted as signals of economic recovery.
The improvement in the automotive sector in particular stands out as the main reason for the increase in industrial production. The automotive sector has a critical role in Germany’s economic structure, and developments in this area directly affect industrial production.
This increase in Germany’s industrial production is considered a positive indicator for the country’s economic health and future.
