Germany’s industrial production grew at a slower pace in November, data released by Destatis showed on Friday.
Industrial output grew 0.9 percent month-on-month in November, slower than the revised 3.4 percent increase seen in October. However, this was better than the economists’ forecast of +0.7 percent.
On a yearly basis, industrial production declined 2.6 percent after falling 2.7 percent a month ago.
Compared to February 2020, the month before the start of the restrictions due to the corona pandemic, production in November was 3.8 percent lower.
Excluding energy and construction, production in industry was up by 1.2 percent in November.
The material has been provided by InstaForex Company – www.instaforex.com