German Industrial Production Growth Tops Expectations
08 Juin 2017 - 10:19AM
RTTF2
Germany's industrial production recovered in April largely
driven by energy output, figures from Destatis showed Thursday.
Production advanced 0.8 percent in April from March, when it
dropped by revised 0.1 percent. The pace of growth was also faster
than the expected 0.5 percent.
Excluding energy and construction, industrial output gained 0.4
percent. Energy production advanced 5.7 percent in April, while
construction output decreased 0.1 percent.
At the same time, output of capital goods grew 0.3 percent and
that of intermediate goods moved up 1 percent.
On a yearly basis, growth in industrial output increased to 2.9
percent in April from 2.2 percent in March. Production was forecast
to grow 2.1 percent.
The German economic recovery has entered its ninth year and
there are no signs that this recovery could come to an abrupt halt,
Carsten Brzeski, an economist at ING DiBa said.
Today's industrial production data have not only confirmed this
growth picture but actually provide further evidence that this
recovery could gain even more momentum, Brzeski added.
The economy ministry said the trend in industrial production
remains upwards. The positive developments in orders, sales as well
as excellent business climate suggest a continued upturn in
manufacturing and construction.
Official data released on Wednesday showed that factory orders
dropped 2.1 percent on a monthly basis in April, reversing a 1.1
percent rise in March.
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