Investor Alert

May 7, 2021, 2:19 a.m. EDT

German March industrial production beats forecasts

By Maria Martinez

German industrial production rose in March, beating expectations, statistics office Destatis said Friday.

Total industrial output--comprising production in manufacturing, energy and construction--increased 2.5% in March from February in calendar-adjusted terms. Economists had forecast a 1.8% increase, according to a poll by The Wall Street Journal.

Destatis downwardly revised February's industrial production on-month decline to 1.9% from an earlier 1.6% drop.

March's total industrial output fell 5.1% from a year earlier in calendar-adjusted terms, Destatis said.

Compared with February 2020--the month before the first restrictions were imposed in Germany because of the coronavirus pandemic--production was 4.3% lower in seasonally and calendar-adjusted terms.

Within industry, the production of intermediate goods showed an on-month increase of 1.2% and the production of consumer goods of 2.9%. However, the production of capital goods decreased by 0.4%, Destatis said.

Outside industry, energy production was up by 2.4% on month in March and the production in construction increased by 10.8%, the office said.

The industrial production data followed Thursday's publication of manufacturing orders data for March, which showed a 3.0% month-over-month increase on an adjusted basis.

Write to Maria Martinez at maria.martinez@wsj.com

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