The important automotive industry has lifted its production
Germany’s industrial output exceeded expectations in July after the previous recession, it was revealed on Tuesday.
This is a sign that factories are moving past the supply bottleneck that has been considering Europe’s biggest economic recovery.
– Advertising –
Industrial output, including construction and energy, rose 1% in a month after a 1% decline in June, according to the Federal Statistics Office.
A poll conducted by Reuters suggested a 0.9% increase.
Manufacturing production increased by 1.3%, while construction output increased by 1.1%, while energy sector production fell by 3.2%.
“After industrial production fell in the second quarter, the third quarter had a friendly start,” said Germany’s Ministry of Economy.
The automotive industry increased production by 1.9%, while the mechanical and engineering sector increased production by 6.9%, according to the ministry.
“Even if supply supply with slower production-slowing semiconductors is likely to last for some time, the output figures suggest that the industry may have overcome that low point,” the ministry said. I added.
The IFO Institute said production expectations for the automotive and engineering sectors had improved dramatically in August.
“It appears that companies are hoping that the spare product supply bottleneck will slowly resolve in the coming months,” said IFO economist Klaus Wohlrabe.
