Industrial manufacturing in Germany slides sharply
German industrial manufacturing in December 2022 fell by 3.1% compared to November and by 3.9% in annualised terms.
German industrial manufacturing in December 2022 fell by 3.1% compared to November and by 3.9% in annualised terms. The drop was a lot sharper than analysts had predicted. The consensus forecast assumed the indicator would fall by 0.6% and 0.2%, respectively. Despite the decline in euro exchange rates, negative data put pressure on the DAX, which will likely continue to move downward.
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