German industrial output drops 3.1% in December
Industrial production in Germany fell by 3.1% in December 2022 month on month, the country's Federal Statistical Office Destatis revealed in its provisional report released on Tuesday. The figure dropped 3.9% for the corresponding month the year before.
Excluding energy and construction, production decreased by 2.1% in December in comparison to the month earlier, and slipped by 2.2% year over year. The intermediate goods slumped by 5.8%, while the figure for capital goods remained unchanged from the month before. Meanwhile, consumer goods were up by 0.3% in December.
Energy production was down by 2.3%, while construction production plunged 8% compared to the previous month. "The construction industry was probably also affected by the high number of frost days in December," the report underlined.