Germany's industrial production declined by 0.6 percent month-over-month in July 2019, missing market expectations of a 0.3 percent gain and following a downwardly revised 1.1 percent drop in the previous month. Output of both capital (-1.2 percent) and intermediate goods (-0.7 percent) fell while energy production contracted 1.3 percent. On the other hand, production of consumer goods rose by 0.6 percent, and construction output grew 0.2 percent. Year-on-year, industrial production decreased 4.2 percent in July, after a downwardly revised 4.7 percent fall in June. Industrial Production Mom in Germany averaged 0.07 percent from 1991 until 2019, reaching an all time high of 4 percent in August of 1993 and a record low of -6.90 percent in January of 2009.
Industrial Production Mom in Germany is expected to be -0.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production Mom in Germany to stand at 0.40 in 12 months time. In the long-term, the Germany Industrial Production MoM is projected to trend around 0.50 percent in 2020, according to our econometric models.