Production in industry
May 2024 (in real terms, provisional):
-2.5% on the previous month (seasonally and calendar adjusted)
-6.7% on the same month a year earlier (calendar adjusted)
April 2024 (in real terms, revised):
+0.1% on the previous month (seasonally and calendar adjusted)
-3.7% on the same month a year earlier (calendar adjusted)
WIESBADEN – Production in industry in real terms (price adjusted) was down 2.5% in May 2024 month on month after seasonal and calendar adjustment, according to provisional data provided by the Federal Statistical Office (Destatis). A three-month on three-month comparison showed that production remained on the level of the previous three months in March to May 2024 (0.0%). After revision of the provisional results, production in April 2024 increased by 0.1% compared with March 2024 (provisional figure: -0.1%). Compared with May 2023, production was down 6.7% in May 2024 after adjustment for calendar effects.
Substantial decreases in the automotive industry and “manufacture of machinery and equipment” sector
Downwards trends were seen in most economic sectors of industry in May 2024. In particular the drop in production in the automotive industry (-5.2% month on month, seasonally and calendar adjusted) had a negative impact on overall results after production in this sector rose by 4.5% in the previous month. The decline in the “manufacture of machinery and equipment” sector (-5.9%) also weighed on overall performance.
In May 2024, production in industry excluding energy and construction was down 2.9% from April 2024 after seasonal and calendar adjustment. The production of capital goods declined by 4.0%, the production of intermediate goods decreased by 2.7% and the production of consumer goods was down 0.2%. Outside industry, energy production was up 2.6% in May 2024. Production in construction dropped by 3.3% from the previous month.
Compared with May 2023, production in industry excluding energy and construction in May 2024 was down 7.3% after calendar adjustment.
Production up in energy-intensive industrial branches
Production in energy-intensive industrial branches increased by 0.2% in May 2024 from April 2024, after elimination of seasonal and calendar effects. A three-month on three-month comparison showed that production in these industrial branches was 3.5% higher in the period from March to May 2024 than in the previous three-month period. Compared with May 2023, production in energy-intensive industrial branches was up 2.5% in May 2024 after adjustment for calendar effects. An analysis on the Production index for energy-intensive industrial branches (only in German) is available on the “Industry, manufacturing” page of the Federal Statistical Office’s website.
Methodological notes:
The differing comparative periods must be taken into account in all press releases on short-term indicators. Short-term economic monitoring focuses on comparisons of seasonally and calendar adjusted figures with those of the previous month or quarter. These reflect short-term economic trends. Year-on-year comparisons of calendar adjusted results enable long-term comparisons of levels and are not influenced by seasonal fluctuations or calendar effects. The results of month-on-month, quarter-on-quarter and year-on-year comparisons may differ considerably due to the Covid-19 crisis and the war in Ukraine.
The rates of change are based on the production index for industry. The average figure for 2021 is used as the basis of the index and set to 100 index points (2021 = 100). The X13 JDemetra+ method was used for calendar and seasonal adjustment.
The five branches referred to here as “energy-intensive” have particularly high energy demands in relation to their gross value added. In the reference year of 2021, they collectively accounted for 77% of total industrial energy consumption. Their proportion of industrial gross value added stood at 17%. In 2021, just under one million people (929,599) were employed in the 6,986 industrial establishments of these branches in Germany.
For better readability, this press release uses a short form for the names of some economic branches which differs from the designations in the “Classification of Economic Activities (2008 edition)”. An overview of these short forms (only in German) is provided on the “Industry, manufacturing” page on the website of the Federal Statistical Office.
More information:
Basic data and long time series on the production index in industry can be found in the table Indices of production in manufacturing (42153-0001) in the GENESIS-Online database. It contains the time series of the production index for energy-intensive industrial branches from 2005 onwards.
