German industrial output falls sharper than forecast in December

ISTANBUL

Germany's industrial production dropped 2.4% from the prior month in December, much sharper than expected, according to official data released on Friday.

December's decline came after an upwardly revised monthly growth of 1.3% in November.

The market forecast was a 0.7% decline for December's figure.

The decline was mainly led by a significant decline in the automotive industry with 10% in December, Destatis data showed.

Decrease in the production of machine maintenance and assembly by 10.5% also brought down overall performance.

On an annual basis, industrial output plunged 3.1% in December.

On a yearly average, industrial production also fell 4.5% in 2024 compared to 2023.