Germany: Industrial production increased despite supply chain problems

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German industrial production increased in October, despite problems in the supply chain.

Total industrial production rose 2.8% month-on-month in October in calendar-adjusted terms, according to Destatis.

Economists expected a 1% increase. In September, industrial production fell by 0.5%.

Industrial production fell 0.6% in October from the same month last year, and was 6.5% lower than pre-pandemic levels in February 2020.

Manufacturing production increased by 3.2% on a monthly basis. The production of capital goods increased by 8.2% and the production of motor vehicles, trailers and semi-trailers, increased by 12.6%.

The production of intermediate goods decreased by 0.4% on a monthly basis and the production of consumer goods decreased by 0.1%.

Energy production increased by 0.9% and construction by 1.2%.

Germany’s manufacturing sector continues to be affected by widespread supply chain problems, according to recent research data.

Manufacturing PMI fell to 57.4 points in November from 57.8 points in October, hitting a ten-month low.

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Source From: Capital

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