The FINANCIAL — German industrial output rose in October, although by less than expected as gains in manufacturing and construction were capped by a slump in energy production, according to Nasdaq.
Industrial output, adjusted for seasonal swings and calendar effects, expanded 0.2% in October from the previous month, the economics ministry said on December 7. Economists polled by The Wall Street Journal had forecast a 0.5% increase.
“The trend in industrial production was slightly negative of late,” the ministry said, but added that rising output at the start of the fourth quarter was “a first step to overcome the weakness of the previous months.”
Manufacturing output and construction each increased 0.7% from September, but energy production slumped 5.9%. “Ample wind and sun during the summer had previously led to a noticeable expansion in renewable-energy production,” the ministry said.
The industrial output data are the latest in a series of rising economic indicators, that point to a pick-up in German economic activity following a slack third quarter.
The ministry said Friday that manufacturing orders rose 1.8% in October from the previous month, propelled by a 2.4% rise in eurozone demand. Germany’s Ifo business sentiment measure hit its highest level in 17 months in November.
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