The Industrial Production Index measures the monthly output of manufacturing industry in Germany in the reference month compared to the same month of the previous year. Due to its periodicity, its rapid availability and the detailed breakdown by economic activity, it is a central and up-to-date indicator of economic development.
In enterprises with more than 50 employees, the statistical offices of the federal states survey the monthly production of more than 6,000 products by value and quantity. The contribution of enterprises with more than 20 employees is collected quarterly and the monthly indices are included. The figures determined, which are delivered to the Federal Statistical Office on the 25th of the following month, cover 80% of the value of German industrial production and are then condensed into economic sector indices with gross production value shares.
The four-digit activity indices are used for the higher aggregates of the economic activities – three-digit, two-digit, main group – up to the total production index, the share of the gross value added at factor cost of each economic activity in the total value of the manufacturing industry in the base year. These value-added figures come from the annual cost structure survey in the manufacturing sector. In order to improve the quality of the monthly production indices, they are adjusted for each activity to the level of the corresponding quarterly production index.
The current monthly production indices are provisional and still contain just under 10% estimates. In order to improve the quality of the meaningfulness of the indices at the current margin, the expected need for correction is integrated into the calculation of the provisional results. The need for correction resulting from the adjustment of the monthly index to the quarterly index is currently less than 0.5% on an annual average.
The production index does not take into account the production output of enterprises with less than 20 employees. Moreover, the production index represents only that part of the production value of the holdings covered by the classification of products. Thus production values from non-industrial activities such as trade, transport, services and those parts of physical production not included in the current goods classification are missing.
The Industrial Production Index y/y of manufacturing reflects the average change in the production index during the reference month compared to same month of the previous year. Industrial production growth may have a positive impact on euro rates.
The chart of the entire available history of the "Germany Industrial Production y/y" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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