German electro and digital industry: nominal sales down in December 2023

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According to the ZVEI Business Cycle Report (February 2024 edition), nominal sales of the German electro and digital industry amounted to 19.2 billion euro in December 2023, leaving them 7.9% lower than in the same month the year before. At the same time, producer prices picked up by 2.9%. Both businesses with domestic and foreign clients receded in December, the former by 10.1% (to 9.2 billion euro) and the latter by 5.8% (to 10 billion euro). Revenues with the euro zone sagged by 6.4% to 3.3 billion euro and sales to customers from countries outside the common currency area were 5.5% down, reaching 6.7 billion euro. According to preliminary calculations, the sector’s aggregated turnover came to 238.1 billion euro in the full last year. With it, sales were up by 6% from 2022. Domestic and foreign turnover arrived at 115 billion euro (+7.2%) and 123.1 billion euro (+5.1%) last year, respectively. Sales to business partners from the euro area grew by 5.8% to 44 billion euro, while revenues with third countries advanced by 4.7% to 79.1 billion euro in 2023.

TURNOVER OF THE GERMAN ELECTRO AND DIGITAL INDUSTRY