The Federal Ministry for Economics and Labour has released very optimistic statistics. The fact is that in February 2020, national industrial production did not drop, but increased 0.3% compared to the previous month. Experts believed that we should expect no increase in the indicator, as it would decline by as much as 0.9%.
The Federal Statistical Office (Germany) explains the unexpected growth by the fact that in February the spread of the deadly coronavirus did not have time to affect the manufacturing sector of the European state. By the way, if you compare not with the previous month, but with February 2019, then the figures do not look so optimistic. This method of calculation says that there is a reduction of 1.2%.
If energy and construction are not taken into account, the industrial production growth in February amounted to 0.4%.
Electricity production has increased 2.7%, the production of consumer goods has grown by 1.8%, and the production of capital goods has dropped by 0.3%.
Analysts have also revised statistics for January. The updated data indicate that the volume of industrial production for the first month of 2020 increased by 3.2% (compared to December 2019) and decreased by 0.9% in annual terms.
The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group