By Ed Frankl
Industrial production in Germany ticked up less than expected in April, as motor-vehicle manufacturing dipped, adding to concerns about the country’s key manufacturing base.
Industrial output–comprising production in manufacturing, energy and construction–rose 0.3% in April compared with the previous month on a price, seasonally and calendar-adjusted basis, from an upwardly revised 2.1% fall in March, data from the German statistics office Destatis showed Wednesday.
Economists polled by The Wall Street Journal expected industrial production to rise 0.7% over the month.
The figures come after data on Tuesday showed that German manufacturing orders in April fell by 0.4%, also lagging expectations, and the purchasing managers’ index for manufacturing in May last week fell even further into contraction, suggesting a slowdown in the sector.
Nevertheless, in a three-month comparison, production in industry from February to April was 1.6% higher than in the previous three months, Destatis said.
Manufacture of motor vehicles and parts, a key industry for the German economy, dipped 0.8%, while energy production declined even further, by 1.5%.
However, manufacturing output, which excludes energy and construction, rose 0.1% in April compared with March, as the production of consumer goods increased by 1.5% on month.
Construction output ticked up 2.0% and pharmaceutical manufacture rose 6.4%, but production at energy-intensive industrial branches fell 1.1% on month, according to Destatis.
Write to Ed Frankl at [email protected]
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