Germany's industrial production continues to drop in May

Downward trends seen in most economic sectors, particularly drop in automotive industry affecting overall results severely

By Gokhan Ergocun

ISTANBUL (AA) - Germany's industrial production went down by 2.5% in May, on a monthly basis, and fell 6.7% on a yearly basis, the federal statistical authority Destatis announced on Friday.

The country’s industrial production has been in a downward trend since June 2023 annually.

Downward trends were seen in most economic sectors of industry, in particular, the drop in production in the automotive industry had a negative impact on the overall results.

The decline in the manufacture of machinery and equipment sector was also effective on the overall performance.

Production in energy-intensive industrial branches increased by 0.2% in May 2024 from April 2024, compared with May 2023, which was up 2.5% in May 2024.

Kaynak:

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