Germany Industry


Industrial production contracts unexpectedly in December

In December, industrial production decreased 0.7% over the previous month in seasonally-adjusted terms. The reading contrasted both the revised 2.4% expansion registered in November (previously reported: +1.9% month-on-month) and the 0.3% increase the markets had expected. The contraction was driven by lower manufacturing production and a deterioration in electricity and energy supply.

Compared to the same month of the previous year, industrial output increased 2.6% in December, which came in below the revised 3.8% expansion registered in November (previously reported: +3.5% year-on-year). In the full year 2013, industrial output decreased 0.1%, which was up from the 0.4% contraction observed in 2012.

Forecasters polled by FocusEconomics expect that industrial production will expand 2.5% in 2014, which is up 0.2 percentage points from last month's forecast. For 2015, the panel sees industrial production accelerating to a 2.6% expansion.

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Germany Industry Chart

Germany Industry December 2013

Note: Month-on-month changes of seasonally adjusted industrial production and annual growth rate in %.
Source: Federal Statistics Office and FocusEconomics calculations.

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