Pic: Shutterstock/Klyuchinskiy Oleg
The adjusted index of production since December 2022 rose by 5.8 per cent, which more than compensated the significant decline in December 2022, -2.4 per cent. Compared with February 2022, calendar adjusted production in February 2023 was 0.6 per cent higher, according to provisional data provided by Destatis.
Most of the economic sectors demonstrated a positive development in production in February 2023. Production in industry excluding energy and others was up by 2.4 per cent in seasonally and calendar adjusted terms, compared with January 2023. Compared with February 2022, calendar adjusted production in industry increased by 1.7 per cent.
Looking at the industry as a whole, there was an increase across all major groups of the economy. The production of intermediate goods increased by 1.8 per cent and the production of consumer goods by 1.4 per cent in February 2023 compared with the previous month.
In contrast to industry, energy production did not increase its output in February 2023. It fell by 1.1 per cent compared with the previous month.
Production in the energy-intensive industrial branches rose, too. However, this increase accounted only for 1.9 per cent in February 2023 compared to January 2023 and is therefore significantly lower than industrial production as a whole. Despite this increase, production in energy-intensive industrial branches in February 2023 was 12.0 per cent lower than in February 2022.
Fibre2Fashion News Desk (NB)