Germany's productive output rises 2.8% in March from February

08 May 2012 13:47  [Source: ICIS news]

LONDON (ICIS)--Germany’s overall productive output rose by 2.8% in March from February, with chemicals and pharmaceuticals production also showing a month-on-month increase, according to data on Tuesday.

Germany’s economics ministry said that March’s month-to-month increase in productive output was driven by increased production in both the industrial as well as the building and construction sectors.

However, March’s increase in building and construction – up by 30.7% – was largely due to catch-up effects after harsh weather in February, the ministry said.

March’s increase in productive output came after a revised 0.3% decline in February from January.

On a two-month sequential comparison – February-March versus December-January – Germany’s overall productive output was up by 1.7%. Compared with February-March 2011, output was up by 0.8% year on year.

Also on Tuesday, Germany’s central bank, the Bundesbank, reported that, based on preliminary data, the index for Germany’s chemicals and pharmaceuticals production rose to 108.8 points in March, from 105.5 points in February.

For the first quarter of 2012, the index stood at 106.6 points, compared with revised 105.9 points in the 2011 fourth quarter and 111.8 points in the 2011 first quarter.

Meanwhile, Germany’s chemical production is expected to show no year-on-year growth in 2012, a producers' trade group has forecast.

Germany’s government has said it expects 0.7% GDP growth for the country this year.

Paul Hodges studies key influences shaping the chemical industry in his Chemicals and the Economy Blog

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