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Germany’s Dec industrial production at lowest of 8 years

by ChemOrbis Editorial Team -
  • 08/02/2017 (15:15)
According to data from Germany’s statistics office Destatis, the country’s industrial production was down by 3% on a monthly basis in December following an increase of 0.5% in November due to the weakness across sectors. This was also the biggest fall since 2009, when industrial production declined by 6.9%.The data also showed a decline of 0.7% in the country’s output in December on a yearly basis, when compared to an increase of 2.3% in November.

The data indicated that industrial output was down by 3.4% in December excluding energy and construction. Energy and construction output as well as production of capital goods, consumer goods and intermediate goods dropped by 0.9%, 1.7%, 5.4%, 3.1% and 1.1% respectively.

Meanwhile, Germany’s factory orders posted the fastest monthly increase of more than two years in December by 5.2%, after a fall of 3.6% in November, on the back of the increase in domestic demand. The factory orders also posted a further annual increase by 8.1% in December following an increase of 2% in November.

The biggest rise in orders was seen in capital goods by at 9.7% while new orders for intermediate goods and consumer goods posted respective drops of 0.6% and 1.8%.
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