German Industrial production fell by 0.3% in December

Statistics on the German industrial production volume came as a surprise to analysts. The National Economical Ministry indicated that in December it decreased by 0.3% compared to the November indicator value. The preliminary estimate of the decline in industrial production was 0.2%. Analysts were confident. They predicted the growth of German commercial production in December at 0.4% in monthly terms. Calculation of production dynamics excluding energy and construction showed its expansion by 1.2%. The output of PTN products heightened by 2.5% in December. At the same time, the volume of production of consumer goods fell by 0.5% in the disclosure month. Industrial production in Germany cannot yet reach the pre-pandemic size. Concerning the indicator for February 2020, when restrictive assess were not yet introduced, the gap is estimated at 6.9%. This indicator was calculated taking into account seasonal and calendar factors.