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Financial News: German Industrial Output Falls More Than Expected

German Industrial Output Falls More Than Expected

02/07/2020 - 02:27:00 (RTTNews)

(RTTNews) - Germany's industrial production declined more than expected in December, data from Destatis revealed Friday.

Industrial production decreased 3.5 percent on month in December, in contrast to a 1.2 percent rise in November. Output was forecast to fall 0.2 percent.

On a yearly basis, industrial production plunged 6.8 percent, faster than the 2.5 percent decrease seen in November. Economists had forecast a 3.7 percent decrease.

Capital goods production fell 3.5 percent and consumer goods output decreased 2.0 percent. Likewise, output of intermediate goods was down 2.6 percent.

Excluding energy and construction, industrial production was down by 2.9 percent. Energy production grew 2.0 percent, while construction output fell 8.7 percent.

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