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German Production Flat in Dec

GERMAN DATA
MNI (London)

GERMANY DEC IND PROD 0.0% M/M, -1.0% Y/Y; NOV +1.5% M/M

  • German industrial production came was flat in Dec, in contrast to markets looking for a small 0.3% uptick.
  • Monthly Nov industrial production was revised up to 1.5% from the previously reported reading of 0.9%
  • Annual production fell by 1.0% in Dec, slightly stronger than projected (BBG: -0.8%)
  • Dec's output is still 3.6% lower than Feb's pre-crisis level and over the year of 2020, IP was 8.5% lower than in 2019.
  • Intermediate goods output rose 2.0% and consumer goods production ticked up 2.6%, while the production of capital goods eased 0.5%.
  • Energy output declined by 2.9% in Dec and construction output dropped by 3.2%.
MNI London Bureau | +44 203-865-3814 | irene.prihoda@marketnews.com
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