Germany: Industrial production contracts in November
January 7, 2016
In November, industrial production shrank 0.3% over the previous month in seasonally-adjusted terms, contrasting October’s 0.5% increase and market expectations of 0.5% growth. November’s fall mainly reflected that manufacturing swung into contraction. In addition, mining and quarrying expanded at a slower pace. Conversely, construction grew steadily and electricity and water supply rebounded.
Compared to the same month of the previous year, industrial production rose a mild 0.1% in November, which came in below October’s 0.4% increase and was the slowest pace of growth in eight months. The overall trend stabilized as annual average growth in industrial production remained at October’s 0.8%.