Germany’s January production rises 1.8% from December

09 March 2011 16:41  [Source: ICIS news]

TORONTO (ICIS)--Germany’s production rose 1.8% in January 2011 from December as the building sector recovered after harsh winter weather, the country’s economic ministry said on Wednesday.

January’s increase comes after a 0.6% decline in December 2010 from November. The ministry revised December production sharply upward, after initially reporting a 1.5% decline in December from November, it said.

On a two-month sequential comparison – December/January versus October/November – production rose 0.1%.

Compared with the same two months a year ago, production was up 11.8%, the ministry added.

The ministry also said that industrial orders in January rose 2.9% from December, after a revised 3.6% decline in December from November.

Industrial firms are in a good mood, as shown by recent surveys, the ministry said.

“Firms’ capacity utilisation is above average, order books are filled, and production clearly remains on an upward trend,” it added.

In Germany’s chemicals industry, production is forecast to grow 2.5% year on year in 2011. In 2010 production increased 11% year on year, after declining 10% in 2009 from 2008.

Germany’s GDP is expected to grow 2.3% in 2011. The increase comes after a 3.6% year on year growth in 2010 and a 4.7% decline in 2009 from 2008.

Read Paul Hodges’ Chemicals and the Economy Blog

By: Stefan Baumgarten
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