MIL OSI Translation. Region: Germany / Deutschland –
Source: Federal Ministry for Economic Affairs and Energy According to the Federal Statistical Office, production in the manufacturing sector fell by 0.2 percent in August compared to the previous month. Industry and construction reported declines of 0.7 percent and 0.3 percent, respectively, while generation in the energy sector rose 6.7 percent. The main reason for the decline in industry was a sharp cut in production in the automotive sector (-12.5 percent). In a two-month comparison between July / August and May / June, production in the manufacturing sector increased by 5.8 percent. Industry and the energy sector recorded increases of 8.1 percent and 5.0 percent, respectively, while production in the construction sector decreased (-3.4 percent). In the automotive sector, there was strong growth of 23.8 percent. After the loosening of the tough lockdown in April, a recovery trend has been observed since May, even if there was a slight decline in August. In industry, production was most recently almost 90 percent of the pre-crisis level in the fourth quarter of 2019. The improved mood in companies, the increasing number of incoming orders and the reduced working hours suggest that the catching-up process will continue. ————-   All figures are based on preliminary data and are price, calendar and seasonally adjusted (X13 JDemetra + method).
EDITOR’S NOTE: This article is a translation. Apologies should the grammar and / or sentence structure not be perfect.