The German industrial production plummeted in June to its lowest point since May 2020, when production was severely impacted by the Covid-19 pandemic, it was announced today.
Preliminary data from Germany’s federal statistics agency, Destatis, revealed that industrial production in June fell by 3.6% compared to the same month in 2024 and by 1.9% from May.
In the less volatile quarterly comparison, production decreased by 1.0%, also reaching its lowest level since the first half of 2020, according to a Destatis statement.
In addition to this data, Destatis revised the May data downward: instead of the previously estimated 1.2% growth, German industrial production declined by 0.1%.
This significant revision occurred due to corrections made by some companies in the automotive sector, Destatis explained.
The negative trend recorded in June was mainly due to drops from the previous month in the production of machinery (-5.3%), pharmaceuticals (-11.0%), and food (-6.3%).
Conversely, energy production rose by 3.1%, while the construction sector grew by 0.7%.
Excluding energy and construction, the June downturn was 2.8% compared to May, based on seasonally and calendar-adjusted data.
Within the industry, there were contractions in the three main groups: consumer goods (-5.6%), capital goods (-3.2%), and intermediate goods (-0.6%).
