German exports beat expectations as industrial production declines in December
German exports rose by 4% in December while industrial output fell more than expected. The mixed results highlight ongoing economic uncertainty in the region.
Insights:
Official data released today for December showed a notable divergence in the economic performance of Germany 
DE, as a strong rise in German exports occurred alongside a significant decline in German industrial production . The figures revealed that German exports increased by 4.0% month-on-month, while German industrial production fell by 1.9% month-on-month. These simultaneous, divergent signals have highlighted continued uncertainty over the pace of recovery in Europe’s largest economy.
DE, as a strong rise in German exports occurred alongside a significant decline in German industrial production . The figures revealed that German exports increased by 4.0% month-on-month, while German industrial production fell by 1.9% month-on-month. These simultaneous, divergent signals have highlighted continued uncertainty over the pace of recovery in Europe’s largest economy.The December results differed sharply from market expectations. According to a Reuters (poll of analysts) , German exports had been forecast to rise by only 1%, making the actual 4.0% increase a significant beat. In contrast, the 1.9% drop in German industrial production was much more severe than the 0.3% decline analysts had predicted. This mixed data, which also factors into the broader context of German industrial orders , complicates near-term assessments of the industrial health of Germany DE.
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