Germany: Industrial output recovers in January
March 8, 2017
Industrial production swung from a seasonally-adjusted 2.4% contraction in December to a 2.8% expansion in January. The reading overshot market expectations of a softer 2.5% increase. January’s print was driven by a recovery in manufacturing and an acceleration in mining and quarrying. The contraction in the construction sector softened while the electricity and energy supply sector fell deeper into contractionary territory.
Compared to the same month of the previous year, growth in industrial production was flat in January, which came in marginally above December’s 0.1% contraction. In January, annual average growth in industrial production was 0.8% (December: +1.0%).
Author: Christopher Mc Innes, Economist