Truck Highway Kilometer Index Declines in Germany

In November, a decline was observed in the highway kilometer index for trucks in Germany, which is expected to have a strong correlation with industrial production. According to seasonally and calendar-adjusted data calculated by the Federal Office for Freight Transport (BAG) and the Federal Statistical Office (Destatis), the distance traveled by trucks with four or more axles on German highways decreased by 0.5% compared to the previous month. However, when adjusted for calendar effects, there was a 0.2% increase compared to the same month last year.

The truck kilometer data serves as an early indicator of current economic developments in the sector. Thus, it is stated that there is a clear connection between the truck kilometer index and economic activity indices, particularly the manufacturing production index. In Germany, the industrial production figures released on Friday for October showed a 1.0% decline, contrary to market expectations of a 1.0% increase. The industrial production figures for November will be announced on January 9.