German Industrial Output Falls in December
German industrial production falls
German industrial production fell more than expected in December, marking the seventh monthly decline in a row, according to the federal statistics office. This news comes as a blow to the country’s manufacturing sector, which has been facing challenges in recent months.
December industrial production decline
Industrial production in Germany fell by 1.6% in December compared with the previous month, a steeper decline than the 0.4% predicted by analysts polled by Reuters. The decline was particularly pronounced in the chemical industry, with production falling by 7.6% on the month, and in construction, which saw a 3.4% decline. Other sectors also experienced decreases, albeit to a lesser extent, according to the statistics office.
Impact on automotive industry
However, there was a silver lining in the form of a 4.0% increase in production in the automotive industry, which had a positive effect on the overall result. This increase provided a glimmer of hope amid the overall decline in industrial production.
Quarterly performance
Looking at the last quarter of the year, a less volatile figure, industrial production in Germany fell by 1.8% compared to the three months before. This decline in quarterly performance is a cause for concern and indicates a broader slowdown in the country’s industrial output.
By Maria Martinez
