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Germany : Industrial Production  
Released On 5/9/2017 2:00:00 AM For Mar, 2017
PriorPrior RevisedConsensusActual
Month over Month2.2 %1.8 %-0.7 %-0.4 %
Year over Year2.3 %1.9 %1.8 %

Industrial production gave back some ground in March. A 0.4 percent monthly drop was a little shallower than anticipated but with February's bounce revised down by 0.4 percentage points, overall the release was much as expected. Annual growth of output was 1.8 percent, just a tick short of last time.

Amongst the major subsectors, weakness was concentrated in capital goods which contracted a monthly 1.2 percent after a 1.3 percent increase in mid-quarter. Intermediates edged up 0.1 percent while consumer goods were only flat. Elsewhere, construction rose 1.5 percent but energy declined 2.5 percent. Manufacturing output decreased 0.5 percent and so unwound half of February's 1.0 percent gain.

Despite March's setback, first quarter industrial production still shows a tidy 1.3 percent increase versus the fourth quarter of 2016 when it rose just 0.3 percent. So, goods output will have made a much more significant contribution to real GDP growth last quarter. Flash GDP data are due Friday with expectations currently centred around a 0.7 percent quarterly expansion rate. If correct, this would match the economy's best performance since the fourth quarter of 2014.

Industrial production measures the physical output of the nation's factories, mines and utilities. Data are collected from companies in the sector with fifty or more employees and include mining and quarrying, manufacturing, energy and, in contrast to its Eurozone counterpart, construction.  Why Investors Care

2017 Release Schedule
Released On: 1/92/73/84/75/96/87/78/79/710/911/712/7
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