Germany: Industrial output drops in November
January 11, 2017
Industrial production in November inched down from October’s revised 0.5% expansion (previously reported: +0.3% month-on-month) to 0.4%. The reading vastly undershot market expectations of a stronger 0.7% increase. November’s print reflects an expansion in three of the four components of the index, which more than offset a contraction in electricity and energy supply.
Compared to the same month last year, industrial production increased 2.2% in November, which came in above October’s revised 1.6% expansion (previously reported: +1.2% year-on-year). Annual average growth in industrial production came in at 1.0% in November, up from 0.8% in October.
Author: Christopher Mc Innes, Economist