Germany: -2.5% industrial production in September, -4.6% year-on-year
Data lower than expected. Trade balance surplus falls to 17 billion in September
1' min read
1' min read
Industrial production in Germany in September fell by 2.5 per cent compared to the previous month and dropped by 4.6 per cent compared to the same month in 2023, according to preliminary seasonally adjusted data published by the Federal Statistical Office (Destatis). In a quarterly comparison, output from July 2024 to September 2024 was 1.9 per cent lower than in the previous three months. The figure for August 2024 was slightly adjusted downwards: +2.6% compared to July 2024 versus +2.9% in the preliminary figure.
Trade balance surplus falls to 17 billion in September
In September 2024, Germany also recorded a trade balance surplus of EUR 17 billion. According to Destatis, the Federal Statistical Office, German exports in the month fell by 1.7 per cent compared to the previous month to EUR 128.2 billion (seasonally adjusted), when imports increased month-on-month by 2.1 per cent to EUR 111.3 billion. On a year-on-year basis, exports remained almost stable (-0.2%), when imports increased by 1.3% compared to September 2023. In August 2024, the German trade balance surplus was EUR 21.4 billion, and in September 2023 it was EUR 18.6 billion.
