According to the Destatis institute, industrial production rebounded by 1.5% in November in Germany, more strongly than expected by the Factset platform which predicted an increase of 0.5%.
German industrial production and exports regained color in November after two months of decline, according to official data published Thursday, a rare brightening in the crisis facing Europe’s largest economy.
According to the Destatis institute, industrial production rebounded by 1.5% in November in Germany, more strongly than expected by the Factset platform which predicted an increase of 0.5%.
According to revised data on Tuesday, this key indicator for the manufacturing sector fell 0.4% in October.
As for exports, they climbed 2.1% over one month, after falling 2.9% in October, while imports fell 3.3%.
“There is now a slight hope that at least the last quarter of 2024 was not as bad as feared,” comments Jens-Oliver Niklasch of the LBBW bank, for whom the outlook for 2025 “is not hardly more joyful.
Over one year, the two crucial indicators for the German economy remain clearly in the red, with a drop of 2.8% for industrial production and 3.5% for exports.
So the increase in November “is not the sign of a recovery, rather a technical rebound”, estimates Carsten Brzeski, analyst for ING.
The poor shape of exports and the industrial sector are largely responsible for the German economic crisis, hit by a second consecutive year of recession.
-In November, industrial production was driven by energy production, up 5.6% month-on-month, production of vehicles other than cars and the construction sector.
“The persistent geopolitical uncertainties, the new decline in orders and the recent confidence indicators falling again” do not indicate a reversal of the trend, confirms the Ministry of the Economy and Climate in a press release.
Germany exported goods worth 127.3 billion euros in November, seasonally adjusted (CVS).
Imports fell to 107.6 billion euros, consolidating the country’s trade surplus to 19.7 billion euros.
Sales of German goods within the European Union fell by 1.7%, while the economy slowed down in the euro zone.
With a sharp increase of 14.5% in exports between October and November, the United States remains the leading buyer of “made in Germany”, for a value of 14 billion euros.
Exports to China, the second largest trading partner, increased by 4.2% to reach 6.6 billion euros.
