THE VOLUME OF INDUSTRIAL PRODUCTION IN GERMANY DECREASED IN FEBRUARY BY 1.6%
Statistics on the dynamics of industrial production in Germany came as a surprise to the analysts who participated in the survey. They predicted an increase in the February volume of industrial production by 1.5%. At the same time, the state Administration of the country reported a decrease of 1.6% on a monthly basis. The agency also revised the January data. According to the updated statistics, industrial production in the country decreased by 2% in January. The preliminary estimate indicated a decrease of 2.5%. Germany's industrial output remains well below its pre-crisis level. So, in relation to February of last year, when restrictions were not yet imposed due to the coronavirus pandemic, the volume of industrial production decreased by 6.4%. The indicator, calculated without taking into account construction and energy, indicates a decrease in German industrial production in February by 1.8% on a monthly basis. The volume of electricity generation and construction work decreased by 1% and 1.3%, respectively.