Germany: Industrial output stable in February
April 7, 2017
Industrial production was stable in February, growing at January’s 2.2% pace. The reading widely overshot market expectations of a 0.1% contraction. February’s print was driven by surging growth in construction and a return to growth in the electricity and energy supply sector. Manufacturing growth slowed, while the mining sector fell into contraction.
Compared to the same month of the previous year, growth in industrial production was 2.5% in February, contrasting the 0.5% contraction registered in January. In February, annual average growth in industrial production was 0.8%, on a par with January’s figure.
Author: Christopher Mc Innes, Economist