Schweißer symbolisiert die Entwicklung der Produktion im produzierenden Gewerbe

© Tremblay

According to the Federal Statistical Office1, output in the goods-producing sector declined by 0.3% in December compared to the previous month.2 However, the index was significantly influenced by a sharp decline in the construction sector (-7.3%). By contrast, industry increased its output by 1.2%.

The important sector of motor vehicles and parts recorded a strong increase, up 12.1%, whereas output in mechanical engineering declined by 3.7%. Output in both sectors remained below pre-crisis levels due to persistent shortages, particularly in semiconductors.

During the summer months of last year in particular, industrial production was slowed down by supply bottlenecks for key intermediate goods and raw materials. However, the third upward development in a row points to a positive economic trend. Despite the weak performance of the construction industry, overall industrial production is stabilising.

The latest indicators of sentiment suggest that a gradual easing of the supply bottlenecks is in sight. Together with the high order backlog at companies, this suggests a dynamic industrial development in the coming months.


[1] Press release of the Federal Statistical Office of 7. February 2022.
[2] All figures are based on provisional data and have been adjusted for price, calendar day and seasonal factors (X13 JDemetra+ procedure).