German Industrial Output Falls Most In 5 Months
07 Febbraio 2025 - 5:28AM
RTTF2
Germany's industrial output declined the most in five months in
December, reflecting a sharp reduction in auto production, Destatis
reported Friday.
Industrial output fell 2.4 percent month-on-month in December,
offsetting November's 1.3 percent gain.
Production marked the biggest fall since July. Moreover, the
decline exceeded the expected drop of 0.7 percent.
Automotive production declined 10.0 percent and output in
machine maintenance and assembly fell 10.5 percent. By contrast,
the pharmaceutical industry posted the sharp growth of 11.6
percent.
Excluding energy and construction, industrial production was
down 3.3 percent from November.
Production of capital goods fell 4.7 percent and the
intermediate goods output dropped 3.3 percent. However, consumer
goods production rose 0.9 percent.
Energy production was up 1.1 percent and construction output
remained on the level of the previous month.
In 2024, industrial production was 4.5 percent lower than in
2023.
The decline in industrial output in December means production
decreased for a third successive quarter in the fourth quarter and
structural headwinds affecting the sector leave little hope for a
sustained recovery this year, Capital Economics' economist Andrew
Kenningham said.
Today's industrial data once again underlines that industry has
been and will remain a drag on German growth, ING economist Carsten
Brzeski said.
Official data released on Thursday showed that factory orders
rebounded in December on strong demand for transport equipment. New
orders increased 6.9 percent in December, reversing a 5.2 percent
fall in November.
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