Tuesday, February 23, 2021

Recession: In 2020, industrial production in Germany fell by almost 11 percent due to the pandemic


The Federal Statistical Office reported that industrial production in Germany was down 10.8 percent in 2020 due to the COVID-19 pandemic. lower than in 2019.

During the first phase of the coronavirus restriction in April and May, production collapsed by 29.7 percent and 23.4 percent, respectively, before starting a recovery.

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In December, the decline was only 1.5 percent. Compared to the same month of 2019, the collapse in the automotive industry was particularly severe. Producers of cars and car parts produced a quarter less than in the previous year.

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“The only branch of the economy in which production increased year on year was the timber industry,” the Federal Statistical Office reported. The production of wood, wicker and cork products, excluding furniture, increased by 3.1%.





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