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German industry output posts steepest monthly fall since Jan 2009
February 7, 2017 / 7:10 AM / in 9 months

German industry output posts steepest monthly fall since Jan 2009

BERLIN, Feb 7 (Reuters) - Weaker output in manufacturing and construction drove the biggest monthly drop in German industrial production in nearly eight years, data showed on Tuesday.

Industrial output fell by 3.0 percent on the month, data from the Economy Ministry showed. This was much weaker than the consensus forecast in a Reuters poll for a rise of 0.3 percent and the steepest drop since January 2009.

The fall was due to a 3.4 percent drop in manufacturing output and a 1.7 decrease in construction.

The November reading was revised up to a rise of 0.5 percent from a previously reported rise of 0.4 percent, helping quarterly output to decline by just -0.1 percent.

“Orders in manufacturing and construction and also sentiment indicators in these sectors are signalling a revival of output growth in coming months,” the Economy Ministry said. (Reporting by Michael Nienaber; Editing by Madeline Chambers)

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