Production collapsed: 2020 – a black year for industry

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Status: 02/22/2021 10:13 a.m.

Industrial production in Germany fell significantly last year due to the corona pandemic – according to the Federal Statistical Office by 10.8 percent. Individual sectors were hit particularly hard.

Due to the heavy burdens from the corona-related lockdown, German industry produced 10.8 percent less price and calendar adjusted in 2020, according to the Federal Statistical Office.  The  hardest setback occurred in April with a minus of 29.7 compared to the same month last year. In December, the minus compared to November was 1.5 percent.

Above all, the auto industry, Germany’s most important branch of industry, suffered from the lockdown. It produced 25.0 percent less than in the previous year. April was a difficult time here too, when the year-on-year decline was 84.3 percent. According to the Federal Statistical Office, the turnover of the industrial companies active in the manufacture of motor vehicles and motor vehicle parts was 17.8 percent below the previous year’s level, adjusted for price and calendar changes.

Clothing companies and companies producing shoes and leather goods had to accept losses of 20 percent and 17.6 percent.

Growth in the wood industry

In mechanical engineering, the production value was 13.8 percent lower than in the previous year. Sales fell by 13.7 percent below the previous year’s level. Overall, the revenues were 217.4 billion euros. This corresponded to a share of a good 13 percent in the total turnover of all industrial companies in Germany. © www.de24.news The  metal production and processing companies produced 13.3 percent less than in the previous year.

© www.de24.news The re was comparatively little decline in production in the food and feed industry and the chemical industry with 2.8 and 1.1 percent respectively. “© www.de24.news The  only branch of the economy in which production has increased year-on-year was the wood industry,” stated the statistics office. © www.de24.news

 The  production of wood, wicker, wicker and cork goods, excluding furniture, increased by 3.1 percent.





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https://www.tagesschau.de/wirtschaft/konjunktur/industrieproduktion-2020-eingebrochen-101.html

Production collapsed black year industry

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