Industrial production in Germany in December fell below the forecast level. As published on Tuesday report According to the German Federal Statistical Office (Destatis), the decrease was especially significant in the chemical and energy-intensive sectors. Year-round industrial production also lags behind the previous year.
In December, seasonally and calendar adjusted, German industrial production fell 3.1% month-on-month, the biggest decline since March 2022, instead of an expected decline of 0.7% and after a month-on-month increase of 0. 4% in November.
Industrial production in December was 3.9% lower than a year earlier, while the annual deficit was 0.5% in November.
Taking December data into account, year-round industrial production in 2022 is estimated to be 0.6% lower than in 2021.
Manufacturing output fell 2.1% in December seasonally and calendar adjusted from November and was 2.2% lower than in December last year.
In terms of industrial production, the production of consumer goods increased by 0.3% in December compared to the previous month. The production of means of production remained unchanged, the production of raw materials and semi-finished products decreased by 5.8%. Production of chemical raw materials decreased by 11.2% compared to the previous month.
Energy production fell 2.3% in December and building materials production fell 8.0% from the previous month.
Energy-intensive manufacturing in manufacturing fell sharply in December, down 6.1% from November and 19.6% from a year earlier.
