German industrial production declines 2.5 pct in January

BERLIN , Mar 9 (XINHUA/APP):Industrial production in Germany decreased by 2.5 percent in January compared to the previous month and by 3.9 percent year-on-year, according to provisional figures published by the Federal Statistical Office (Destatis) on Monday.
Compared to February last year, the month before COVID-19 related restrictions were imposed in Germany, production in January 2021 was even 4.2 percent lower, according to Destatis.
During the crisis year 2020, German industrial production, excluding energy and construction, already fell by 10.8 percent year-on-year due to the global pandemic, according to Destatis.
In the German car industry, the country’s most important industrial sector, the decline in production was “particularly sharp” last year, Destatis noted. Manufacturers of motor vehicles and vehicle parts produced 25 percent less in 2020 than in the previous year.
However, production expectations among German manufacturers in January “brightened for the third consecutive month,” according to a survey of around 2,000 manufacturing companies in Germany published by the ifo Institute on Monday.
The ifo index for industrial production expectations increased to 20.7 points in February, up from 9.4 points in January. “Expectations vary greatly between industries,” said ifo expert Klaus Wohlrabe. “While the automotive industry is planning to expand production particularly rapidly, the clothing industry is planning to cut back on production.”

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