In March 2023, the volume of industrial production in Germany decreased by 3.4% compared to the previous month. This is reported by Interfax-Ukraine with the reference to the data of the Federal Statistical Office of Germany (Destatis).
Analysts polled by Trading Economics on average expected a decrease of 1.3%.
According to revised data, industrial production in Germany fell by 2.1% in February compared to the previous month.
In March 2023, the production of cars and parts decreased by 6.5%, industrial equipment – by 3.4% m/m. Construction volumes decreased by 4.6% m/m. Output of means of production decreased by 4.4%, intermediate goods – by 3.5%, consumer goods – by 0.1%. Electricity production increased by 0.8%.
The volume of industrial production in Germany in March was 1.8% higher than a year earlier. In the first quarter of 2023, industrial production in Germany increased by 2.5% compared to the previous quarter.
Steel production in Germany in March 2023 decreased by 2.7% compared to the same month of 2022 – to 3.238 million tons. In the first quarter, German seelmakers reduced steel production by 6.6% y/y – to 9.16 million tons.
As GMK Center reported earlier, GDP of Germany in January-March 2023 did not change compared to the previous quarter. Compared to the same period in 2022, the country’s economy decreased by 0.1% adjusted for the number of working days.
As GMK Center reported earlier, in 2022 economy of Germany increased by 1.9% compared to 2021. The German economy performed better than expected. The worst recession expectations were tempered by a modest 0.4% quarter-on-quarter growth in the third quarter of 2022. In 2021, the country’s economy increased by 2.6% y/y.
In 2023, the German economy is expected to grow by 0.2% compared to 2022.
Austrian steelmakers increased steel production by 19.1% in March 2024 compared to February this year,…
Since the beginning of 2024, Kametstal has shipped almost 160 thousand tons of products produced…
China's National Development and Reform Commission (NDRC) has identified the first list of low-carbon demonstration…
Demand for steel in India in fiscal year 2024/2025 (ending in March 2025) will grow…
Global decarbonization is turning electrical steel into one of the key products of China's ferrous…
The United Arab Emirates (UAE) and Oman have signed an investment agreement worth AED 117…