German Industrial Production declines 0.7% MoM in November vs. 0.2% expected

Germany’s industrial activity extended its southrun in November, according to the official data published by Destatis on Tuesday.

Industrial output in the Eurozone’s economic powerhouse fell 0.7% MoM, the federal statistics authority Destatis said in figures adjusted for seasonal and calendar effects, compared with the 0.2% expected and a 0.3% decline seen in October.

On an annual basis, German Industrial Production tumbled 4.8% in November, as against October’s 3.4% drop.