2019.03.1104:03:00UTC+00German Industrial Production Unexpectedly Declines; Exports Unchanged

Germany's industrial production unexpectedly decreased in January and exports were unchanged, defying forecasts for a fall, preliminary data from the Federal Statistical Office showed on Monday.

Industrial production decreased 0.8 percent month-on-month in January, while economists had predicted a 0.5 percent gain.

December's outcome was revised from a 0.4 percent decline to a 0.8 percent gain.

On a year-on-year basis, industrial production decreased 3.3 percent in January, in line with expectations. In December, production shrunk 2.7 percent.

Separate data from the FSO showed that after calendar-and-seasonal adjustments, exports were unchanged from the previous month in January after a 1.5 percent increase in December. Economists were looking for a 0.5 percent decline.

Imports grew 1.5 percent monthly after a 0.7 percent gain in December. Economists had expected a 0.10 percent fall.

The non-adjusted trade surplus was EUR 14.5 billion versus EUR 14.3 billion in December. Economists had expected a EUR 15.2 billion surplus.

The current account surplus shrunk to EUR 18.3 billion from EUR 23.1 billion in December. Economists had predicted a EUR 18 billion surplus.