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German industry recovering from pandemic, but slower than expected

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German industrial production rose by 1.6 per cent on the month in September, the Federal Statistical Agency (Destatis) reported on Friday.

The rise was considerably higher than the revised rise of 0.5 per cent in August, but well below analysts’ expectations of a rise of as much as 2.5 per cent.

The pandemic’s impact on the key German economic sector is revealed by the fact that September production was down by 7.3 per cent on the same month last year. Compared with February, before the crisis, industrial production was down by 8.4 per cent.

Broken down by sector, goods production rose by 2 per cent, and construction by 1.5 per cent, while energy production fell by 2.5 per cent.

According to figures from the Federal Economy Ministry in Berlin, total production rose by 10.7 per cent over the third quarter, following a sharp decline in the second quarter.

The automotive sector led the way with a rise of almost 70 per cent, after production plants were shut down completely in the spring.

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The ministry noted that orders and the general business climate pointed to a continuation of the upward trend, although it predicted the road ahead would be rocky.

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