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German Industrial Output fell more than expected in December

The Federal Statistics Office said on Tuesday that German industrial output fell more than expected in December, driven by lower output from energy-intensive sectors.

The office stated that industrial output fell 3.1 percent from the previous month, while expectations had indicated a decline of 0.7 percent from the previous month.

The decline was sharper in the energy-intensive industrial sectors, where output fell 6.1 percent in December compared to November.

German industrial output fell 0.7 percent in the fourth quarter of 2022, according to estimates from Pantheon, an economic research company. A company official said the first quarter of 2023 would be worse.

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