The industry developed very weakly last year. Now there are signs of improvement.
After weak development in 2023, German industry started the new year solidly: it increased its production again in February. Compared to the previous month, total production increased by 2.1 percent, as the Federal Statistical Office in Wiesbaden announced. It is the second increase in a row. The growth in January was also slightly better than previously expected.
The bottom line is that developments in February were almost entirely positive: industrial goods production rose by 1.9 percent. More capital goods, intermediate goods and consumer goods were produced than a month earlier. The increase in the construction industry was particularly significant at 7.9 percent. Energy production alone fell by 6.5 percent, thereby impacting the overall result.
The figures confirm signs of a gradual end to the weak phase, commented the Federal Ministry of Economics in Berlin. The industry developed very weakly last year. Goods production had been in decline for a long time. The main reasons for the disappointing development were the still high energy and raw material prices as well as weak foreign demand in some cases.
Source: Stern
