Germany Industrial Production: significantly decreased again "because of the coronavirus pandemic"

[Sergey Golubev]

Germany Industrial Production: significantly decreased again "because of the coronavirus pandemic"

German industrial production plunged by nearly 18% in April compared with the previous month at the height of Europe's coronavirus lockdowns, official data showed Monday:
"The production in Germany decreased significantly again in April 2020 because of the coronavirus pandemic, after a marked decrease had been observed already in March. In April 2020, production in industry was down by 17.9% on the previous month on a price, seasonally and calendar adjusted basis according to provisional data of the Federal Statistical Office (Destatis). The calendar adjusted year-on-year decrease was as much as 25.3%. This is the largest decline since the beginning of the time series in January 1991."

"A sharp drop was recorded by the automotive industry (-74.6%)" - as added in the report provided by Federal Statistical Office of Germany.

official report..

[klomiskis]

In principle, a drop of 18% at such a time is still a very good result. People’s activity is minimal, and this is how product sales have declined.