Germany’s industrial production declined by 8.5pc in 2020 compared to 2019, according to Federal Statistical Office of Germany (Destatis).
In December 2020, the country’s industrial output fell by 1pc compared to December 2019 while it remained unchanged from November 2020. Production fell by 3.6pc compared to February 2020, the month before COVID-19 related shutdowns were imposed.
Production of intermediate goods and consumer goods increased by 2pc and 2.6pc respectively while production of capital goods dropped by 0.5pc in December last year compared to the previous month.
Destatis also announced that the production figures from November stand corrected at a 1.5pc increase compared to October 2020.