Business
Germany's industrial output falls record 17.9 percent in April

Germany's industrial output falls record 17.9 percent in April

Jun 08, 2020

Doha (UAE) June 8: German industrial output plunged a record 17.9 percent in April compared with March as the coronavirus pandemic shut down Europe's biggest economy, according to official data.
After a fall of 8.9 percent in March, industrial output experienced "its biggest drop since this data was first recorded in January 1991", Germany's Destatis official statistics agency said on Monday.
Compared with April 2019, industrial output was down 25.3 percent.
By category, April machine tools were down 35.3 percent on the month, intermediate goods fell 13.8 percent, and consumer goods were off 8.7 percent.
The key auto industry saw output slump 74.6 percent but construction held up better, with a fall of just 4.1 percent.
Shutdown
The coronavirus pandemic has caused huge economic disruption around the world, but Germany has managed to do better than many of its peers, with total economic output down 2.2 percent in the first three months of the year.
Germany's lockdown was less severe than those imposed in Italy, Spain and France, and it never ordered factories closed, but companies did largely stop production in some areas - such as the car manufacturing sector - and supply chains were disrupted.
Germany started easing restrictions on public life on April 20, and the process has gathered pace since.
Germany's governing coalition last week agreed on 130 billion euros ($146bn) in stimulus measures, including tax breaks and subsidies for buying electric vehicles.
Compared with April 2019, industrial output was down 25.3 percent.
By category, April machine tools were down 35.3 percent on the month, intermediate goods fell 13.8 percent, and consumer goods were off 8.7 percent.
The key auto industry saw output slump 74.6 percent but construction held up better, with a fall of just 4.1 percent.
Shutdown
The coronavirus pandemic has caused huge economic disruption around the world, but Germany has managed to do better than many of its peers, with total economic output down 2.2 percent in the first three months of the year.
Germany's lockdown was less severe than those imposed in Italy, Spain and France, and it never ordered factories closed, but companies did largely stop production in some areas - such as the car manufacturing sector - and supply chains were disrupted.
Germany started easing restrictions on public life on April 20, and the process has gathered pace since.
Germany's governing coalition last week agreed on 130 billion euros ($146bn) in stimulus measures, including tax breaks and subsidies for buying electric vehicles.
Source: Al Jazeera