Industrial production increases in Germany - But exports fall by 2.5% in January
German industrial production rose in January but exports fell, highlighting the challenges facing the incoming government in reviving the eurozone's largest economy at a time of geopolitical uncertainty.
German exports fell 2.5% in January from a month earlier, data from the federal statistics office showed. The result came after a 0.5% increase forecast in a Reuters poll. Imports rose 1.2% in January from a month earlier.
Last year, Germany was the only G7 country to have a contraction for two years in a row. The parties hoping to form Germany's next government agreed last week to revise state borrowing rules to boost defense spending and earmarked 500 billion euros for infrastructure investment over 10 years.
Their efforts to boost the economy come as a trade war with the US looms, with President Donald Trump threatening to impose tariffs on the European Union.
The foreign trade balance showed a surplus of 16.0 billion euros in January, down from 20.7 billion euros in December 2024 and 25.3 billion euros in January 2024. Exports to EU countries fell by 4.2% in January compared to December, while exports to non-EU countries decreased by 0.4%. Most German exports went to the US in January, although they fell by 4.2% compared to December 2024.
Meanwhile, German industrial production rose 2.0% in January from a month earlier, the federal statistics office said. Analysts polled by Reuters had forecast a 1.5% increase. Industrial production for the month was above the average for the fourth quarter, giving hope that it will at least not fall in the first quarter, economists said.
Germany's gross domestic product fell 0.2% in the fourth quarter from the previous three months. Analysts say German industrial production remains about 10% below its pre-pandemic levels.
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