German Industrial Production Falls 3.1% in December

Germany’s industrial production fell at a faster-than-expected rate in December, dropping by 3.1% last month, according to the federal statistical office, beating analysts’ estimate for a 0.7% drop for the month, according to a Reuters poll.

In 2022, German industrial production fell 0.6% in calendar-adjusted terms from 2021 and declined 5.0% from pre-pandemic levels in 2019.

According to the statistics office, after a sharp plunge in March, production made some recovery but then started to fall toward the end of the year.

While industrial production fell in December, industrial orders rose 3.2%, exceeding expectations and increasing the most in more than a year, according to data released on Monday.