German industrial output dropped unexpectedly by 0.8 percent month-over-month in January 2019, missing market expectations of a 0.5 percent rise and following an upwardly revised 0.8 percent gain in December. Production fell for capital (-2.5 percent) and intermediate goods (-0.7 percent) while output rose for energy (3.6 percent) and consumer goods (1.5 percent) and construction (0.2 percent). Year-on-year, industrial production declined by 3.3 percent in January, after a downwardly revised 2.7 percent fall in December. Industrial Production Mom in Germany averaged 0.08 percent from 1991 until 2019, reaching an all time high of 4 percent in August of 1993 and a record low of -6.90 percent in January of 2009.
Industrial Production Mom in Germany is expected to be -0.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production Mom in Germany to stand at 0.70 in 12 months time. In the long-term, the Germany Industrial Production MoM is projected to trend around 0.50 percent in 2020, according to our econometric models.