Production in German industry stagnated in December after seven months of sustained growth. According to the German Federal Statistics Office, industrial production remained unchanged last month compared to November.
The German industry is faced with the new lockdowns against the coronavirus and also chips shortages. According to the statistical office, industrial production increased by an adjusted 1.5 percent on a monthly basis in November.
Over the whole of 2020, industrial production in Germany fell by 8.5 percent because of the COVID-19 crisis, for example because fewer cars were sold.
Peretz M. is an accomplished economist and financial journalist with a deep understanding of the global economy and financial markets. He is a regular contributor to EconomicInform, where he provides expert analysis and commentary on current economic trends and events. With a strong educational background in economics, Peretz has a talent for breaking down complex economic concepts for a general audience and is able to provide insightful perspectives on a wide range of economic issues.