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GERMAN DATA
MNI (London)
GERMANY MAR IND PROD +2.5% M/M, +5.1% Y/Y; FEB -1.9% M/M
- German industrial production rose by 2.5% in Mar, stronger than market expectations (BBG: +2.1%).
- This marked the first increase after two successive declines and the highest level since Oct 2020.
- Feb's reading was revised down to -1.9% from -1.6% previously reported.
- Annual production rebounded to 5.1%, after falling by 6.8% in Feb.
- Despite the recent uptick, Mar's output was still 4.3% compared to Feb 2020, the month before the start of the pandemic.
- While the production of consumer and intermediate goods increased by 2.9% and 1.2%, respectively, capital goods output declined by 0.4%.
- Energy output increased by 2.4%, while construction output surged 10.8%.
- Mar's increase was in line with the truck toll mileage index, which rebounded in Mar and is closely connected to IP.
- However, the index declined by 1.6% in April, which bodes ill with future gains of industrial production.
Source: Destatis
MNI London Bureau | +44 203-865-3814 | irene.prihoda@marketnews.com
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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