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German Industrial Production Unexpectedly Declines In December

Germany's industrial production decreased for a fourth consecutive month in December, defying expectations for an increase, preliminary figures from the Federal Statistical Office showed on Thursday.

Industrial production fell a calendar and seasonally-adjusted 0.4 percent from November, when it decreased 1.3 percent, revised from 1.9 percent. Economists had expected a 0.8 percent increase.

Excluding energy and construction, production grew 0.2 percent from the previous month after a 1.5 percent slump in November.

Capital goods output rose 0.9 percent, while production of intermediate goods decreased 0.4 percent and consumer goods output fell 0.5 percent.

Energy production was unchanged from the previous month, while construction output shrunk 4.1 percent.

On a year-on-year basis, industrial production fell 3.9 percent after a 4 percent slump in November, revised from 4.7 percent. Economists had expected a decrease of 3.3 percent. Production dropped for a second straight month after October's 0.5 percent increase.

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