German industrial production came in at a weak -2.4% MoM in December, below -0.6% MoM expected and a sharp deceleration from the 1.3% MoM increase in November.

• With the decline in December, industrial production is now at the weakest since May 2020.
• The 3Mo3M growth rate was -0.9%, and the annual rate was -3.1% YoY. In 2024 as a whole, production was -4.5% lower than in 2023 on a calendar adjusted basis.
• The decline in December was largely impacted by a -10.0% MoM decline in the auto industry.
• Capital goods production was down -4.7% MoM, and intermediate goods production fell -3.3% MoM. Consumer goods production, however, was up 0.9% MoM.
• In 2024 overall, capital goods production fell -5.6%, and the auto industry saw a -7.2% drop in production.