Brandenburg Gate in Berlin, Germany

Germany Industrial production November 2023

Germany: Industrial activity dips in November

Industrial output declined 0.7% calendar-adjusted month-on-month basis in November (October: -0.3% mom). Looking at the details of the release, manufacturing production output decreased at a more moderate pace in November, while mining and quarrying output swung to contraction. Lastly, construction sector output dropped at a sharper rate, while energy output growth lost pace.

On an annual basis, factory output fell at a quicker rate of 4.8% in November (October: -3.4% yoy), the worst result since February 2021. Moreover, the trend pointed down, with the annual average variation of industrial production coming in at a two-year low of minus 1.6% in November, down from October’s minus 1.2% reading.

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