DAX Slips As Industrial Output Unexpectedly Declines
(RTTNews) - German stocks edged lower on Tuesday after data showed the country' industrial production unexpectedly declined in November, marking the sixth monthly fall in a row.
Industrial production slid 0.7 percent on a monthly basis in November, following a revised 0.3 percent drop in October. Output was forecast to grow 0.2 percent.
On a yearly basis, the decline in industrial output deepened to 4.8 percent from 3.4 percent in October.
The benchmark DAX wad down 44 points, or 0.3 percent, at 16,672 after climbing 0.7 percent in the previous session.
Insurance giant Munich Re edged down slightly after sharing an update on cost of natural disasters in 2023.
Wind turbine maker Nordex was moving lower despite receiving three orders from Scotland totaling around 150 MW.
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