Publications
Partners
Warsaw - German industrial production rebounded in January, reaffirming the country’s favorable economic outlook after factory orders slumped the most in eight years.
Output, adjusted for seasonal swings and inflation, rose 2.8% from December, when it dropped a revised 2.4%, the Economy Ministry in Berlin said on Wednesday. The volatile indicator’s reading compares with a median estimate for a 2.7% increase in a Bloomberg survey. Production was unchanged from a year earlier.
The data come on the back of report on Tuesday showing factory orders plunged at the steepest pace since 2009 amid markedly below-average demand for big-ticket items.
While the slump serves as a reminder that Germany isn’t immune to risks, the ministry said a revival of manufacturing can still be expected. Last month, the Bundesbank predicted growth would pickup at the start of 2017, supported by domestic demand and a stronger global outlook.
Output in January was bolstered by a 6.1% in investment and 2.3% in consumption goods, according to the data. Construction dropped 1.3%, while energy production slipped 0.7%.
Read Fin24's top stories trending on Twitter: Fin24’s top stories
