Source: Energy & Management Powernews , January 10 2023
Industrial production rose slightly last November compared to the same month last year. In the energy-intensive industries, there was a significant minus in relation to the previous year.
In total, there was a slight upward trend last fall. According to the Federal Statistical Office (Destatis), price-adjusted production in the manufacturing sector rose by 0.2 percent in November 2022 compared to October, adjusted for seasonal and calendar effects. From September to October, the index had fallen by 0.4 percent. A minus of 0.4 percent also resulted from the comparison between November 2022 and the same month of the previous year.
In contrast, industrial production - manufacturing excluding energy and construction - increased by 0.5 percent in November compared to the same month of the previous year, according to Destatis, adjusted for calendar effects. The agency also calculated an increase of 0.5 percent for the period from October to November 2022, with production of intermediate goods up 1.1 percent and capital goods up 0.7 percent. Production of consumer goods declined 1.5 percent.
In energy-intensive industries, production did increase 0.2 percent in November 2022 compared with October 2022. But the index landed 12.9 percent below the November 2021 figure.
Last November brought the sharpest drop in orders in more than a year for German industry, according to the agency. According to the report, new orders shrank by 5.3 percent compared to October. Compared to the same month last year, the decline in "working day-adjusted terms" was 11 percent. The Federal Ministry of Economics expects a "difficult winter" for companies, even though business prospects "have improved recently."
For more information, visit the Federal Statistical Office's website.
Author: Manfred Fischer
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