Germany July productive output falls 1.7% from June, but chems rise

06 September 2013 14:31  [Source: ICIS news]

LONDON (ICIS)--Production from industry, construction, energy and mining in Germany fell 1.7% in July from June, but chemicals and pharmaceuticals output rose slightly, according to data released on Friday.

Germany’s economics ministry said that July’s decline in overall productive output was mainly due to a 2.1% fall in industrial production, while building and construction output rose by 2.7%.

In June, productive output rose by a downward-revised 2.0% from May.

On a two-month sequential comparison – June-July against April-May – productive output was up 0.5%. Compared with June-July 2012, it was down 1.1% year on year.

In related news, Germany’s central Bank, the Bundesbank, said that its index for output in Germany’s chemicals and pharmaceuticals sector was 100.2 in July, up from 100.1 in June.

For the second quarter, the index was at 100.0, up from 98.5 in the first quarter. The index’s base year is 2010.

Also on Friday, Germany’s federal statistics office reported that exports fell 1.1% in July from June while imports rose 0.5%, underlining the role of domestic demand for the country’s economic growth this year.

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

By: Stefan Baumgarten
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