German Industrial Production drops by 0.3% MoM in December, a negative surprise

Industrial Production in Germany unexpectedly fell in December, the official data showed on Friday, suggesting that the manufacturing sector is not out of the woods 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.