Industrial production in Germany in March fell at a record pace

According to the German Ministry of Economics and Labor, industrial production in the country fell by 9.2% in March compared with the previous month, which was the largest decrease since the start of data collection in 1991. Experts predicted a decrease in industrial production by 7.5%.

The automotive industry showed a decline of 31.1% in monthly terms. Manufacturing production decreased by 11.6%. The production of capital goods fell by 16.5%. However, the performance of the construction industry showed an increase of almost 2%.

The orders of industrial enterprises in Germany in March fell by 15.6% compared to February, which also became the minimum value since the beginning of data collection in 1991.