German industrial production falls in December

Germany’s industrial production dropped in December. On a sequential basis, production in industry dropped 3 percent in December on a seasonally and working day adjusted basis, showed the Federal Statistical Office. The November figure was upwardly revised to 0.5 percent growth from 0.4 percent growth. Consensus expectations for December were for a rise of 0.3 percent.

Excluding construction and energy, German industrial production fell 3.4 percent sequentially in December. Within industry, capital goods production fell 5.4 percent, whereas the production of consumer goods dropped 3.1 percent in the month.

The production of intermediate goods fell 1.1 percent sequentially, whereas energy production dropped 0.9 percent. Also, construction output fell in the month by 1.7 percent month-on-month.

On a year-on-year basis, German industrial production dropped 0.7 percent in December, as compared with the November’s print of a growth of 2.3 percent.