Industrial production in Germany saw a monthly drop of 1.6% in December, more than analysts expected, the country's Federal Statistical Office Destatis unveiled in a report released on Tuesday. Compared to the same month in 2022, the figure sank by 3.0%.
The production of intermediate, and consumer goods both observed monthly decreases of 5.2%, and 0.9%, respectively. Meanwhile, the production of capital goods increased by 1.3%. Outside industry, construction advanced by 4.1% compared to November. Meanwhile, energy production fell by 5.8%.
Excluding energy and construction, Germany's industrial production decreased by 1.5% month-on-month and 3.7% year-on-year.
