Production and Export are on the rise: German industry continues to recover

The German industry has recovered in June from the sharp slump in Production in the Corona of a crisis. In the manufacturing sector the production in the month

Production and Export are on the rise: German industry continues to recover

The German industry has recovered in June from the sharp slump in Production in the Corona of a crisis. In the manufacturing sector the production in the month was increased in comparison to 8.9 percent, as the Federal Statistical office announced on Friday in Wiesbaden. Analysts had expected a weaker increase of 8.2 percent. The increase in June was the second in a row. In the months of March and April, the production had fallen because of the limitations in the fight against the Corona pandemic, massive.

the crisis weighs still heavy, shows a comparison of the two years. Compared to the same month last year, the total production was in June to 11.7 per cent decline. The pre-crisis level is still clearly below: compared to February, the total production is 12.1 percent lower.In the automotive industry production in June increased according to the Federal office for 54.7 percent month-on-month more strongly. It is also still a good 20 per cent lower than in February. In February, the massive restrictions for the containment of the pandemic were not yet in force.

Export as expected

the German foreign trade recovered further in June from the break-in at the Corona-crisis. The export rose in the month compared to 14.9 percent, as that Tati tables Bundesamtam Friday announced in Wiesbaden. Imports rose compared with may by 7.0 percent.

The improvement in exports was approximately as expected, in the case of imports, they remained below the expectations. Analysts had exports on average, with 14.4 percent and 10.6 percent more imports expected.

Compared to the previous month, the decline at 9.4 percent (exports) and 10.0 percent (Import) are still very high. It shows how strong the suffering of foreign trade under the Corona of a crisis.

"Early indications for economic development"

Diefortschreitende economic recovery does, however, also the number of Lorries on German motorways clear. The driving performance of the toll Truck with at least four axes increased from June to July, seasonally adjusted by 1.9 percent, the Federal statistics office on Friday. Thus, the Trend of previous months continues.

But the traffic is still below pre-crisis levels: This is the comparison to the February shows –the month before the beginning of the restrictions imposed by the Corona pandemic. In comparison to this month, the Truck-toll-road performance in July was 4.7 percent lower. "As the Truck-driving performance is closely related with the industrial production in Germany, the Index, early evidence on the economic development in July 2020," said the Wiesbaden-based statisticians.

The economy slumped in the second quarter due to the Corona-crisis record pace: The gross domestic product fell from April to June to 10.1 percent quarter-on-quarter. For the summer, is expected to have a strong recovery.

Updated Date: 07 August 2020, 06:20

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