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German industry output up, exports soar in November
January 9, 2017 / 7:13 AM / a year ago

German industry output up, exports soar in November

BERLIN, Jan 9 (Reuters) - German industrial production rose for the second consecutive month in November and exports jumped more than expected, data showed on Monday, boosting expectations for a rebound in Europe’s biggest economy in the fourth quarter.

Industrial output edged up by 0.4 percent on the month, data from the Economy Ministry showed. This was slightly weaker than the consensus forecast in a Reuters poll for a rise of 0.6 percent.

The increase was driven by a 1.5 percent jump in construction output, the strongest monthly gain since February. Manufacturing production was up 0.4 percent while energy output fell 0.4 percent.

The October reading was revised up to a rise of 0.5 percent from a previously reported rise of of 0.3 percent.

Separate data released from the Federal Statistics Office showed on Monday that seasonally adjusted exports rose by 3.9 percent on the month.

This was the strongest monthly gain since May 2012 and came in better than the consensus forecast in a Reuters poll for a rise of 0.5 percent.

Imports increased by 3.5 percent which was the strongest monthly rise since June 2014 and also much stronger than a predicted increase of only 0.2 percent.

The seasonally adjusted trade surplus widened to 21.7 billion euros ($22.86 billion) from 20.6 billion euros in October. The November reading was above the Reuters consensus forecast of 21.2 billion euros. ($1 = 0.9494 euros) (Reporting by Michael Nienaber and Joseph Nasr; Editing by Paul Carrel)

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