German Industrial Production Fell in December

German industrial production fell in December, as Europe’s largest economy was hit late last year by supply chain crises, official data showed on Monday.

Industrial Production in Germany unexpectedly fell in December, suggesting that the manufacturing sector is not back yet. Eurozone’s economic powerhouse’s industrial output fell by 0.3% MoM, the federal statistics authority Destatis said in figures adjusted for seasonal and calendar effects, vs. a 0.4% increase expected and -0.2% last.

On an annualized basis, the German industrial production declined by 4.1% in December versus a 2.2% drop registered in November. Markets expected the industrial output to fall by 2.4% in the reported month.