2015 ended with strong momentum in industry

According to the preliminary data, industri160205_Ipar_EN_2al output rose by an unadjusted year-on-year rate of 9.4% in December. The working day adjusted growth was less spectacular at 6.9%, still a reasonably good pace. Compared to the previous month, the seasonally adjusted output slipped by 0.7%. Even so, the average quarterly volume of industrial production was 1.8%160205_Ipar_EN_1 higher than in the third quarter.

This year, industrial growth will lose momentum, due to the reduced capacity creation during the past year and the international headwind, including the protracted stagnation of German manufacturing export. Industrial production is likely to grow  by 5-5.6% in 2016.