World Economy

German Production Drops

German Production DropsGerman Production Drops

Industrial production in Germany fell 0.3% in November from a 0.5% gain in October, according to data released by Destatis, ShareCast News reported. The figure fell well short of economists’ expectations for a 0.5% increase. Meanwhile, production rose 0.1% from the same month the previous year, weaker than the 0.4% increase registered in October. In separate data released on Friday, Destatis said seasonally-adjusted German exports rose 0.4% in November compared with a 1.3% drop in October, while imports were up 1.6% versus a 3.2% decline the previous month. This narrowed the foreign trade surplus to €19.7 billion ($21.4 billion) from €20.5 billion.