Germany Industrial Output Growth Exceeds Expectations
Germany’s industrial production growth accelerated more than expected in February, data from Destatis showed on Monday.
Industrial output posted a monthly growth of 2.1 percent, following a revised 1.3 percent rise in January.
On a yearly basis industrial production plunged 4.9 percent after easing 5.3 percent a month ago.
The monthly growth was driven by the 7.9 percent expansion in construction output. Meanwhile, energy output fell 6.5 percent.
Excluding energy and construction, industrial production gained 1.9 percent. The improvement was attributable to the increase in the automobile industry and chemical industry.
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