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German industrial production declined more than expected in December, after an upwardly revised output in November, data from the German federal statistics office Destatis showed Tuesday.
Industrial output, comprising manufacturing production, energy and construction, fell 3.1% on month in December on a price-, seasonally- and calendar-adjusted basis, Destatis said. Economists in The Wall Street Journal’s poll forecast a 0.6% decline.
Industrial production fell 3.9% on the year in price- and calendar-adjusted terms, Destatis said.
The output in November was revised to 0.4% growth from an initial estimate of 0.2%.
In 2022 as a whole, production was 0.6% lower in adjusted terms than in 2021, and down 5.0% from the pre-crisis year of 2019, Destatis said.
In contrast to the overall industry, the production in the energy-intensive industrial branches sharply decreased by 6.1% in December compared with November, Destatis said.
“With a few exceptions, production in the energy-intensive industries fell continuously throughout 2022 and is therefore calendar adjusted 19.6% lower in the current month than in December 2021,” it said.
Write to Emese Bartha at emese.bartha@wsj.com
