April 11, 2023

Production in industry in Germany, February 2023 (in real terms, provisional):
+2.0% on the previous month (seasonally and calendar adjusted)
+0.6% on the same month a year earlier (calendar adjusted)

January 2023 (in real terms, revised)
+3.7% on the previous month (seasonally and calendar adjusted)
-1.6% on the same month a year earlier (calendar adjusted)

In February 2023, production in industry in real terms was up by 2.0% on the previous month on a price, seasonally and calendar adjusted basis, according to provisional data provided by the Federal Statistical Office (Destatis). Revision of the provisional data showed an increase of 3.7% (provisional figure: +3.5%) in January 2023 compared with the previous month. Therefore, the adjusted index of production since December 2022 rose by 5.8%, which more than compensated the significant decline in December 2022 (-2.4%). Compared with February 2022, calendar adjusted production in February 2023 was 0.6% higher.

Most of the economic sectors demonstrated a positive development in production in February 2023. The manufacture of motor vehicles and parts thereof, Germany’s largest industrial sector, accounted for a particularly large share of the significant increase in total production (seasonally and calendar adjusted +7.6% on the previous month). Large parts of the construction industry, which increased its production by 1.5%, also shaped the positive result.

In February 2023, production in industry excluding energy and construction was up by 2.4% in seasonally and calendar adjusted terms, compared with January 2023. Compared with February 2022, calendar adjusted production in industry increased by 1.7%.

Looking at the industry as a whole, there was an increase across all major groups of the economy: the production of capital goods increased by 3.4%, the production of intermediate goods by 1.8% and the production of consumer goods by 1.4% in February 2023 compared with the previous month.

In contrast to industry and construction, energy production did not increase its output in February 2023. It fell by 1.1% compared with the previous month.

Source: DESTATIS
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither Karen Audit nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.