Industrial production in Germany rose two percent in February compared to a month earlier, according to data from Destatis. These are startling figures, says BNR in-house economist Han de Jong. ‘The industry is under pressure around the world.’
These are important figures, because the Dutch economy is closely intertwined with the German one. Especially if you look at the sector, Dutch industry has been doing even better than German since 2018. ‘The fact that German industry is now doing a little better is hopefully good news for the Netherlands as well. It’s not a race.’
The figures below show some encouraging trends, says De Jong. First, the German auto industry is showing a strong recovery. “In February, production was up more than seven percent in one month.”
Germany also seems to benefit from the reopening of the Chinese economy, which has a positive effect on German exports, says De Jong. Thirdly, the shortage of materials is significantly reduced, so that many orders that were still on the shelf can be produced. According to De Jong, these are positive trends that should continue.
Source: BNR
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