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German Production Up in 2021 Despite Drop in December

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German production in industry retreated in December 2021 due to the contraction in construction output, but the full-year figure was higher than the previous year.

Source: Destatis

EWG is up 1.84% premarket.

December’s production fell by 0.3% from the previous month on a seasonally and calendar-adjusted basis. It was also 4.1% lower compared with the same month in 2020.

Production of capital goods inched up by 2.5% and intermediate goods by 0.6%, while construction fell by 7.3%, energy production by 0.7%, and consumer goods by 0.5%.

The latest figures brought the full-year production 3.0% higher than in 2020 and 5.5% lower than in 2019 before the impact of the COVID-19 pandemic. December production was 6.9% lower than February 2020.

November production was revised to reflect a 0.3% increase from October 2021 and 2.2% lower than the previous year.

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