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Financial News: Germany Industrial Output Unexpectedly Falls In November

Germany Industrial Output Unexpectedly Falls In November

01/07/2022 - 02:55:00 (RTTNews)

(RTTNews) - Germany industrial production declined unexpectedly in November, data from Destatis showed Friday.

Industrial output dropped 0.2 percent month-on-month in November, reversing a 2.4 percent rise in October. Economists had forecast production to climb 1 percent.

Compared to February 2020, the month before the start of the restrictions due to the corona pandemic in Germany, production was 7.0 percent lower in November.

Excluding energy and construction, industrial production rose 0.2 percent from the previous month.

Energy production was down 4.4 percent and production in construction dropped 0.8 percent.

On a yearly basis, industrial production declined 2.4 percent after easing 0.9 percent in the previous month.

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