German Industrial Output Plunges in December, Exports Also Drop

German industrial output plunged unexpectedly in December and exports and imports also fell, data showed on Tuesday, in a sign that Europe’s largest economy ended 2015 on a weak footing.

Industrial output fell by 1.2 percent on the month, the strongest decline since August 2014, data from the Economy Ministry showed. The figure fell short of the consensus forecast in a Reuters poll for a 0.4 percent increase.

“Industrial production went through a dry spell at the end of 2015,” the economy ministry said in a statement, adding, however, that a rise in industrial orders in the fourth quarter pointed to an expansion in production at the start of this year.

Reuters

Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.