Pandemic Restrictions Drag German Industry Production 4.0%

Source: Destatis

German industrial production declined by 4.0% in August, dragged by restrictions due to the COVID-19 pandemic.

• Producers continued to report the operations limited by supply shortages of intermediate products, while production of capital goods slowed 7.8%.
• Motor vehicles, trailers, and semi-trailers declined by 17.5%, the manufacture of machinery and equipment down 6.3%, production of goods down 2.6%, and intermediate goods by 2.4%.
• Energy production for the previous month climbed 4.1%, and construction production fell 3.1%.
• Industry production for July jumped 1.3% from the previous month and recorded a 6.0% the same month a year earlier.