German industrial production falls by -3.9% year-on-year in December vs. -1.6% estimate and -0.5% previously
Banca March : There was a mixed bias in the German activity data released yesterday. On the one hand, factory orders grew by 3.2% month-on-month in December, accelerating the growth trend -the highest recorded by the indicator in thirteen months- and beating forecasts. The series is down, however, on a year-on-year basis (-10.1%), reflecting lower activity after the start of the war. In contrast, this morning we have learned about…
