German industrial production stagnates

Bloomberg

German industrial production failed to grow for the first time in eight months in December, adding to signs that the economy is being weakened by the second wave of the pandemic.
Output stagnated at the end of last year as gains in manufacturing were offset by weaker construction. Economists had expected a 0.3% gain.
“The outlook for the industrial sector continues to be subdued in light of the pandemic and the latest bottlenecks in the semiconductor industry,” the Economy Ministry said in a statement. “This is also suggested by weaker orders and damped sentiment among
businesses.”
While German industry has held up relatively well in recent months, it’s starting to show a greater impact from the latest curbs on activity in the country and major export markets. Factory orders fell for the first time in eight months in December, damped in part by lower demand from the euro area.
Germany is keeping restaurants and non-essential shops closed until at least the middle of February, putting the economy on track for a contraction in the first quarter of the year. The government last week agreed to further support companies and citizens hit by the fallout from the pandemic.