Germany’s production up 3.7% in May – ministry

08 July 2009 18:39  [Source: ICIS news]

TORONTO (ICIS news)--Germany’s overall production in May rose 3.7% from April, after a revised 2.6% decline in April from March, the country’s economics ministry said on Wednesday.

Industrial production rose by “a very hefty” 5.1% in May but building and construction dropped 3.2%, the ministry said.

Pointing to improved industrial orders in May, as well as growth in car and car parts manufacturing, the ministry said that production in Europe’s largest economy was likely to have bottomed out.

However, on a two-month sequential comparison – April/May versus February/March – overall production was down 0.7%.

Compared with April/May 2008, overall production was down 20.1%. Industrial production was down 21.9%, while building and construction rose 3.3%.

Earlier on Wednesday, Germany’s chemicals producers association VCI said chemicals production in the first six months of the year was down 15.5% from the same period last year, with capacity utilisation at only 72%.

For the full year, VCI expected chemicals production to fall by 10% and sales by 12% compared with 2008, it said, adding that the industry had reached the trough of the recession.

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