ifo Institute: Expectations for Industrial Production Improve Slightly
A glimmer of light has appeared on the dark horizon of German industry. According to the ifo Institute, companies expect a slight increase in production over the next three months. The index for production expectations rose from minus 5.3 to plus 2.3 points, taking the index into positive figures for the first time since May 2019: companies apparently expect to expand their production.
In the particularly troubled automotive industry, the index rose from minus 23.0 to plus 3.7 points; for metal products, from minus 22.7 to minus 11.4; in metal manufacturing and processing, from minus 36.3 to minus 21.4; in mechanical engineering, from minus 12.7 to minus 5.4; in electrical equipment manufacturing, from minus 13.3 to minus 6.5; and in the chemical industry, from plus 7.8 to plus 11.3 points.
Some sectors experienced a downward trend: the index sank from plus 5.6 to minus 2.1 points for rubber and plastic goods, while manufacturers of electronic and optical products saw a decrease from plus 17.6 to plus 16.4 points.
The German Federal Statistical Office will announce its December figures for industrial production on Friday.
