Press release -

German Manufacturers Want to Increase Production

German manufacturers’ production expectations have brightened for the third consecutive month; the corresponding ifo indicator rose to 20.7 points in February, up from 9.4 points in January. This is a finding from the most recent ifo Business Survey. “Expectations vary greatly between industries,” says ifo expert Klaus Wohlrabe. “While the automotive industry is planning to expand production particularly rapidly, the clothing industry is planning to cut back on production.”

Expectations among automotive manufacturers and their suppliers improved markedly, with the indicator shooting up to plus 35 points from minus 1 point in January. The indicator also rose for computer manufacturers, from 29 points to 34 points in February. For the chemical industry it rose to 21 points, up from 15 points in January, while for manufacturers of machinery and equipment it increased to 19 points, up from 12 points in January.

The clothing industry remains the worst performer, although survey participants were slightly less pessimistic about the situation than in the previous month; the indicator rose to minus 60 points from minus 84 points in January. Meanwhile, the outlook for furniture manufacturers deteriorated, with the indicator falling to minus 33 points from minus 15 points in January.

The German Federal Statistical Office will announce its January figures for industrial production today, Monday.

Infographic ifo production expectations in manufacturing, february 2021
Infoprapic ifo production expectations table february 2021
Infoprapic ifo production expectations table february 2021
Contact
Dr. Klaus Wohlrabe

Dr. Klaus Wohlrabe

Deputy Director of the ifo Center for Macroeconomics and Surveys and Head of Surveys
Tel
+49(0)89/9224-1229
Fax
+49(0)89/9224-1463
Mail
Harald Schultz

Harald Schultz

Press Officer
Tel
+49(0)89/9224-1218
Fax
+49(0)89/907795-1218
Mail