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German output rebounds to record best month in more than six years

Europe
09.10.2017
By our dpa-correspondent and Europe Online    auf Facebook posten  Auf Twitter posten  
Berlin (dpa) - German industrial production rebounded in August to post its biggest monthly rise in more than six years, adding to signs that Europe‘s biggest economy had regained momentum after losing ground in recent months.

Output in the nation surged by 2.6 per cent - more three times analysts‘ forecasts - in August after stagnating in July, the Ministry for Economic Affairs said on Monday.

"The strong industrial production data provides further evidence that the economy has left the summer lull behind and has returned to maximum speed," said ING Bank economist Carsten Brzeski.

The August increase represented the biggest growth in output since July 2011, Monday‘s data showed. Analysts had expected a 0.9-per-cent gain in August.

August production was up by a hefty 4.7 per cent from a year earlier.

"Since the beginning of the year, industrial production has been showing an increasingly vigorous upward trend," the ministry said releasing the data.

"The favourable business climate and the positive development in order books point to continuing good industrial activity," it said.

Industrial orders surged by a more-than-forecast 3.6 per cent in August after they contracted by 0.4 per cent in July, the ministry said last Friday.

Year-on-year, new orders were up a substantial 7.9 per cent in August, the figures showed.

 

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