Germany's industrial production continues to rise in July after three consecutive months of decline, in light of the economic recovery and despite the shortage of materials still hampering the work of this sector.
According to Arab Net, the Federal Statistics Office Destatis said in a statement that German industrial production rose by 1% in one month in July. past.
Production fell last June by 1% for the third consecutive month of decline, according to figures adjusted by the institute, which had spoken of 1.3%.
Over the course of a year, German industrial production rose by 5.3%, but remained 5.5% below its level before the Covid-19 pandemic in February 2020.
This increase is larger than the estimates of analysts in the FactSet Group, who had expected a more modest rise of 0.5%.
In detail, production of consumer goods rose 0.9% while that of fixtures rose 3.2%.
In contrast, semi-finished goods decreased by 0.5%.
LBBV analyst Jens Oliver Niklash said that after recent disappointments we can be satisfied with the start of the third quarter.
After a rebound at the beginning of the year, German industry, the mainstay of the eurozone's largest economy, has slowed for months due to a shortage of materials on global markets.
The COVID-19 pandemic has severely affected global supply chains, leading to bottlenecks in the markets for electronic components, timber, plastics and steel in particular.
The automotive sector, in particular, suffers from a shortage of semiconductors, which hinders production. So this market, the most important in the German industry, saw a 23% drop in car registrations over one year last August.
