Germany’s industrial production increases in February

According to data from the German Federal Statistics Office (Destatis), industrial production in Germany continued to accelerate in February 2022, increasing by 3.2% y/y from 1.1% y/y in January. This is the second consecutive month of industrial production growth after a continuous decline between September and December 2021.

The most confident increases were recorded in the energy sector (12% y/y) and the manufacturing of non-durables (11.7% y/y). On the other hand, motor vehicles production declined for the ninth consecutive month, by 8.1% y/y, as the automobile sector in Germany is suffering from the global microchip shortage.

On a monthly basis, Germany’s industrial production also increased, although at a slower rate (0.2%, seasonally and working-day adjusted) compared to the 1.4% growth in January.

More data about Germany’s industrial production here

Read more in the quarterly report Euro Area Economy in a Snapshot - Q1 2022