Data published by the Federal Statistical Office (Destatis) showed that industrial production fell by 0.7% in November, recording the sixth monthly decline in a row. Meanwhile, the October decline was revised to -0.3% from -0.4%. Economists had expected growth of 0.2%. In annual terms, industrial production fell by 4.8% in November, accelerating compared to October (-3.4%). Meanwhile, over the last three months (through November), industrial production decreased by 1.9% compared to the previous three-month period.
Destatis said that industrial production, excluding energy and construction, fell by 0.5% compared to October and by 4.4% per year. The production of capital goods decreased by 0.7% and that of intermediate goods by 0.5%. Meanwhile, the production of consumer goods remained almost unchanged (-0.1%). Outside industry, a 3.9% increase in energy production was observed in November. Production in construction dropped by 2.9% from the previous month. Production in energy-intensive industries fell by 3.1% m/m and by 4.0% per annum.