German industrial production down 0.7% MoM, 4.8% YoY in Nov 2023

Production, therefore, decreased for the sixth month in succession.

The less volatile three-month on three-month comparison showed that production was 1.9 per cent lower in the period from September to November last year than in the previous three months. After revision of the provisional results, production decreased by 0.3 per cent in October 2023 compared with September 2023.

In November last year, production in industry excluding energy and construction was down by 0.5 per cent MoM after seasonal and calendar adjustment. The production of intermediate goods fell by 0.5 per cent and that of consumer goods by 0.1 per cent.

Industrial production was down by 4.8 per cent year on year (YoY) in November last year after adjustment for calendar effects. Production in industry excluding energy and construction decreased by 4.4 per cent YoY over the same period.

Production in energy-intensive industrial branches increased by 3.1 per cent MoM in November 2023 after elimination of seasonal and calendar effects. Such production was down 4 per cent YoY in November.

The three-month on three-month comparison showed that production in these industrial branches was 0.9 per cent lower in the period from September to November 2023 than in the previous three months.

ALCHEMPro News Desk (DS)