Germany: Industrial production rises in October
December 7, 2016
German industrial production in October rose 0.3% in seasonally adjusted terms compared to the previous month, contrasting the revised 1.6% drop recorded in September. October’s increase was however substantially below analysts’ expectations of 0.8% growth. The rise in October was driven by growth in the capital goods, consumer goods and construction sectors, while the production of energy and intermediate goods fell.
Compared to the same month last year, industrial production increased 1.2% in October, which was marginally lower than September’s 1.3% figure. Annual average growth in industrial production came in at 0.7% in October, up from 0.6% in September.
Author: Dirina Mançellari, Senior Economist