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German industry output rises more than expected in January
March 8, 2017 / 7:05 AM / 8 months ago

German industry output rises more than expected in January

BERLIN, March 8 (Reuters) - German industrial production rose more than expected in January, data showed on Wednesday, suggesting Europe’s biggest economy started into 2017 on a strong footing.

Industrial output increased 2.8 percent on the month, data from the Economy Ministry showed. This overshot the consensus forecast in a Reuters poll for a rise of 2.5 percent.

The increase was driven by a 3.7 percent jump in manufacturing output, the strongest monthly gain since August 2016. Construction production fell 1.3 percent while energy output edged down 0.7 percent.

The December reading was revised up to a fall of 2.4 percent from a previously reported drop of 3.0 percent.

“Overall, industrial production got off to a good start into 2017,” the Economy Ministry said in a statement, adding that the rise in January was above the average development in the fourth quarter.

Sentiment surveys are also signalling a continued positive business climate, meaning the industrial upswing is likely to gain further momentum, the ministry said. (Reporting by Michael Nienaber,; Editing by Andrea Shalal)

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