FOREX TradingCharts.com

Financial News: German Industrial Output Recovery Stalls In December

German Industrial Output Recovery Stalls In December

02/08/2021 - 05:31:00 (RTTNews)

(RTTNews) - Germany's industrial production recovery stalled in December amid restrictions imposed to face the second wave of the coronavirus pandemic, data from Destatis revealed on Monday.

Industrial production was unchanged compared to previous month, following a revised 1.5 percent rise in November. Economists had forecast a 0.3 percent rise for December.

The economy ministry said the outlook for the industrial economy remains cautious in view of the general pandemic and due to supply bottlenecks in the semiconductor industry.

Stagnation in December increases the risk that industrial production will not be able to save the economy from contraction in the first quarter, Carsten Brzeski, an ING economist, said.

Production might have fallen slightly since December as virus containment measures continued to take a toll and supply chain difficulties affected production in the auto sector, Andrew Kenningham, an economist at Capital Economics, said.

The economist said GDP will increase by around 3.0 percent this year, following the decline of 5.0 percent in 2020. However, the forecast is dependent on a substantial acceleration of the vaccination programme.

Excluding energy and construction, industrial output was up 0.9 percent in December.

Within industry, intermediate goods output showed an increase of 2.0 percent and that of consumer goods climbed 2.6 percent. Meanwhile, capital goods output dropped 0.5 percent.

Outside industry, energy production dropped 2.9 percent in December, while production in construction was up 3.2 percent.

On a yearly basis, the decline in industrial output eased to 1 percent from 2.5 percent a month ago.

Compared to February 2020, the month before the start of the restrictions due to the corona pandemic, production was still 3.6 percent lower in December.

In 2020 as a whole, production in the manufacturing sector was 8.5 percent lower than in the previous year, data showed.

Driven by weak demand from the euro area, orders were down 1.9 percent on month in December, reversing a 2.7 percent rise in November.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Hungary Producer Price Inflation Slows In January (02 hr(s), 34 min(s), 36 sec(s) ago)
(RTTNews) - Hungary's producer price inflation eased in January, figures from the Hungarian Ce ...Full Story»

German Retail Sales Fall More Than Expected (02 hr(s), 37 min(s), 36 sec(s) ago)
(RTTNews) - Germany's retail sales decreased for a second straight month and at a faster than ...Full Story»

Romania Producer Prices Rise For Second Month (02 hr(s), 56 min(s), 36 sec(s) ago)
(RTTNews) - Romania's producer prices rose for the second month in a row in January, data from ...Full Story»

Philippines Producer Prices Fall Further (03 hr(s), 22 min(s), 36 sec(s) ago)
(RTTNews) - Philippines producer prices declined further in January, data from the Philippine Stat ...Full Story»

UK House Price Inflation Accelerates Unexpectedly (03 hr(s), 38 min(s), 36 sec(s) ago)
(RTTNews) - UK house price inflation accelerated in February, defying expectations for further slo ...Full Story»

Estonia Retail Sales Increase In January (03 hr(s), 49 min(s), 36 sec(s) ago)
(RTTNews) - Estonia retail sales increased in January, data from Statistics Estonia showed on Tues ...Full Story»

Finland Jobless Rate Rises In January (04 hr(s), 32 min(s), 36 sec(s) ago)
(RTTNews) - Finland's jobless rate increased in January, figures from Statistics Finland showe ...Full Story»

RBA Holds Rate, QE Steady (06 hr(s), 09 min(s), 36 sec(s) ago)
(RTTNews) - Australia's central bank left its cash rate and asset purchase programme unchanged ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Hungary Producer Price Inflation Slows In January

03/02/2021 - 03:38 AM (RTTNews)
(RTTNews) - Hungary's producer price inflation eased in January, figures from the Hungarian Ce ...Full Story>>

German Retail Sales Fall More Than Expected

03/02/2021 - 03:35 AM (RTTNews)
(RTTNews) - Germany's retail sales decreased for a second straight month and at a faster than ...Full Story>>

Romania Producer Prices Rise For Second Month

03/02/2021 - 03:16 AM (RTTNews)
(RTTNews) - Romania's producer prices rose for the second month in a row in January, data from ...Full Story>>

Philippines Producer Prices Fall Further

03/02/2021 - 02:50 AM (RTTNews)
(RTTNews) - Philippines producer prices declined further in January, data from the Philippine Stat ...Full Story>>

UK House Price Inflation Accelerates Unexpectedly

03/02/2021 - 02:34 AM (RTTNews)
(RTTNews) - UK house price inflation accelerated in February, defying expectations for further slo ...Full Story>>

Do not sell my personal information

Copyright © 2021. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.