German industrial production unexpectedly up again
Increases reported especially for the energy sector, the pharma industry and the automotive industry.
Wiesbaden (dpa) - German industrial production unexpectedly rose again in May. As the Federal Statistical Office announced on Monday in Wiesbaden, production in the companies of the manufacturing sector increased by 1.2 percent month-on-month. A slight decline had been expected. The Federal Statistical Office also reported an equally unexpected year-on-year rise of 1.0 percent. The energy, pharma and automotive industries played a particular part in this positive development, with growth rates of 10.8, 10 and 4.9 percent respectively. “Industrial production appears to be continuing the upswing that has been observed since the beginning of the year, after having suffered a temporary dip in April in response to the announcement of US tariffs,” said the Economics Ministry, adding however that there was considerable uncertainty surrounding its continued development.
At the same time, the number of new businesses set up in Germany has climbed to a record high. The Global Entrepreneurship Monitor (GEM) 2024/2025 study reports that the number of start-ups has surged by a quarter in comparison with recent years. The proportion of businesses started by women is also higher than ever before, it says, with 43 percent of new companies having been set up by women in 2024.