German Industrial Production Rebounds 2.9%

Germany's industrial production expanded more than expected in August after falling in the previous month, data from Destatis showed on Tuesday.Industrial output grew 2.9 percent on month in August,...

RTT Staff Writer•Tuesday, October 8, 2024•1 min read

Germany’s industrial production expanded more than expected in August after falling in the previous month, data from Destatis showed on Tuesday.

Industrial output grew 2.9 percent on month in August, reversing a revised 2.9 percent decline in July. Economists had expected a 0.8 percent rebound for the month.

Production in the automobile industry fluctuated considerably in the recent months, which had an impact on the monthly development of production in the industry as a whole, Destatis said.

Production of motor vehicles, trailers, and semi-trailers surged by 19.3 percent compared with the previous month.

Excluding energy and construction, industrial production advanced 3.4 percent. Energy output gained 2.3 percent, and construction output moved up 0.3 percent.

Production of capital goods grew 6.9 percent, and that of intermediate goods rose only by 0.1 percent. Meanwhile, consumer goods output remained stagnant.

On a yearly basis, industrial production logged a 2.7 percent drop, slower than the 5.6 percent decrease in July.