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Germany: Industrial production posts mild expansion in December

February 6, 2015

In December, industrial production grew a seasonally-adjusted 0.1% over the previous month, matching November’s result. The reading fell short of market expectations of a 0.4% increase but represented the fourth consecutive expansion. December’s print mainly reflected that increases in manufacturing, mining and energy production more than compensated for contractions in the production of capital goods and construction.

Compared to the same month of the previous year, industrial production contracted 0.7, which followed November’s 0.3% drop. As a result, the overall trend deteriorated as annual average growth in industrial production decreased from November’s 1.8% to a 10-month low of 1.5% in December.

Forecasters polled by FocusEconomics expect that industrial production will expand 1.6% in 2015, which is up 0.2 percentage points from last month’s forecast. For 2016, the panel sees industrial production increasing 2.2%.


Author: Teresa Kersting, Economist

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Germany Industry Chart


Germany Industry December 2014

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


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