Germany productive output rebounds in May

06 July 2012 14:28  [Source: ICIS news]

LONDON (ICIS)--Germany’s overall productive output rose by 1.6% in May from April, rebounding after a revised 2.1% decline in April from March, according to official data released on Friday.

Production in Germany’s chemical and pharmaceutical industry also improved month to month in May.

The country’s economics ministry said that May’s productive output increase was due to higher output in the construction sector, as well as higher industrial production.

The ministry said that despite the risks from the eurozone crisis, the chances for a stable second quarter in German overall productive output had improved.

On a two-month sequential comparison – April–May compared with February–March – productive output was down by 0.3% as a 7.0% increase in building and construction was not enough to offset a 0.9% decline in industrial production.

On a year-on-year comparison with April–May 2011, Germany’s productive output was also down by 0.3%.

In a related data release, Germany’s central bank said that its index for production in Germany’s chemicals and pharmaceuticals industry improved to 107.3 points in May, from 105.6 in April. In March, the index was at 108.6.

In May 2011, the Bundesbank's index for Germany's chemicals and pharmaceuticals production stood at 112.8 points.

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

By: Stefan Baumgarten
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