Production in industry, February 2023 (in real terms, provisional):
+2.0% on the previous month (seasonally and calendar adjusted)
+0.6% on the same month a year earlier (calendar adjusted)
January 2023 (in real terms, revised)
+3.7% on the previous month (seasonally and calendar adjusted)
-1.6% on the same month a year earlier (calendar adjusted)
In February 2023, production in industry in real terms was up by 2.0% on the previous month on a price, seasonally and calendar adjusted basis, according to provisional data provided by the Federal Statistical Office (Destatis). Revision of the provisional data showed an increase of 3.7% (provisional figure: +3.5%) in January 2023 compared with the previous month. Therefore, the adjusted index of production since December 2022 rose by 5.8%, which more than compensated the significant decline in December 2022 (-2.4%). Compared with February 2022, calendar adjusted production in February 2023 was 0.6% higher.
Most of the economic sectors demonstrated a positive development in production in February 2023. The manufacture of motor vehicles and parts thereof, Germany’s largest industrial sector, accounted for a particularly large share of the significant increase in total production (seasonally and calendar adjusted +7.6% on the previous month). Large parts of the construction industry, which increased its production by 1.5%, also shaped the positive result.
In February 2023, production in industry excluding energy and construction was up by 2.4% in seasonally and calendar adjusted terms, compared with January 2023. Compared with February 2022, calendar adjusted production in industry increased by 1.7%.
Looking at the industry as a whole, there was an increase across all major groups of the economy: the production of capital goods increased by 3.4%, the production of intermediate goods by 1.8% and the production of consumer goods by 1.4% in February 2023 compared with the previous month.
In contrast to industry and construction, energy production did not increase its output in February 2023. It fell by 1.1% compared with the previous month.
