FXstreet.com (Barcelona) - Disappointing figures for the German industrial production which has decreased in November, against the market expectation of a pick up, according to data by the German Ministry of Economics.
Industrial production decreased 0.9% in November in a seasonally, instead of the 0.4% increase expected by the analysts. November's decrease follows a 0.1% increase posed in October, revised up from the initially reported 0.3% decrease.
According to the German Economics Ministry, there has been a substantial decrease in production although there is some optimism on the next months looking at the increasing manufacturing orders, which increased 3.4% on the month.
On the year, industrial production rose 3.5% in working day adjusted terms, sharply below the 6.4% increase posted in October, also revised up from the initial 6.0% increase.