Industrial Production on the Rise

In a promising sign for the German economy, industrial production saw a notable increase of 1.2% in May, as reported by the Federal Statistical Office Destatis. This growth not only marks a positive monthly change but also a 1% increase compared to the same period last year.

Sector-Specific Growth Highlights

The automotive industry led the charge with a 4.9% month-on-month growth, closely followed by energy production, which surged by 10.8%, and the pharmaceutical industry, with a 10% increase. However, the construction sector experienced a downturn, declining by 3.9%.

Detailed Production Figures

Capital goods production rose by 4.1%, while consumer goods saw a modest 0.5% increase. In contrast, intermediate goods production faced a 2.1% decline. Excluding energy and construction, the industrial sector's growth was consistent at 1.4% both month-on-month and year-on-year.