Germany: Industrial production deteriorates in December
February 9, 2016
In December, industrial production fell 1.2% over the previous month in seasonally-adjusted terms, marking the largest contraction in 16 months and a setback compared to November’s softer 0.1% decrease. In addition, December’s reading contrasted market expectations of a 0.4% rise. The result reflected falling output in all sectors. While manufacturing shrank at a faster pace than in November, electricity and energy supply, mining and quarrying as well as construction also fell intro contraction.
Compared to the same month of the previous year, industrial production declined 2.2% in December, which contrasted November’s mild 0.1% increase. The overall trend moderated as annual average growth in industrial production decreased from 0.7% in November to 0.5% in December.