Germany's industrial production experienced a slight decline due to a drop in construction output, while both exports and imports grew more rapidly than anticipated, according to official data released on Friday.
The Federal Statistical Office (Destatis) reported that industrial output fell by 0.1 percent in April, following a 0.4 percent decrease in March. Despite the slowed decline compared to March, the April figure contradicted economists' expectations of a 0.3 percent increase.
When excluding energy and construction, industrial production saw a rise of 0.2 percent. Production of capital goods and consumer goods both increased by 0.8 percent, whereas intermediate goods output fell by 0.9 percent. Energy production posted a monthly rise of 1.6 percent, contrasting with a 2.1 percent decline in construction output.
On an annual basis, industrial production declined by 3.9 percent, following a 4.3 percent decrease in March, the data revealed.
Another Destatis report highlighted that exports grew by 1.6 percent month-on-month, surpassing March's revised growth rate of 1.1 percent and the forecasted growth of 1.1 percent. Concurrently, imports rose by 2.0 percent, up from a 0.5 percent growth in March and exceeding economists' expectations of a 0.6 percent increase. Consequently, the trade surplus slightly narrowed to EUR 22.1 billion from EUR 22.2 billion in the previous month.
Year-over-year, exports surged by 12.3 percent, contrasting with an 8.1 percent decline in March, while imports increased by 6.6 percent, reversing a 9.3 percent fall. The unadjusted trade surplus reached EUR 23.6 billion, compared to EUR 15.3 billion during the same period last year.
