Data published by the Federal Statistical Office (Destatis) showed that industrial production increased by 0.4% in June after a 0.1% decline in May. Economists had expected a 0.3% decline. In annual terms, industrial production fell by 0.5% in June.
Excluding energy and construction, production increased by 0.7% compared to May. The production of capital goods increased by 1.0%, the production of consumer goods rose by 1.1%, while the production of intermediate goods increased by 0.3%. Meanwhile, energy production did not change relative to May, and production in construction decreased by 0.8%.
Destatis also reported that production in energy-intensive industries increased by 0.4% compared to May after a 5.4% decline from February to May.
Overall, the shortage of intermediate products continues to put pressure on the production sector. Supply chains are interrupted because of the war in Ukraine and distortions persist that have been caused by the Covid-19 crisis.