German industrial production surges at fastest pace in six years

  • 2/10/2023
  • 15:35
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Berlin, Jumada I 28, 1437, Mar 8, 2016, SPA -- German industrial production surged in January, rising at its fastest pace in more than six years amid hopes that solid domestic demand will help Europe's biggest economy to weather the slowdown in China and other emerging markets. Monthly output jumped by a stronger-than-forecast 3.3 per cent in January, rebounding from a 0.3-per-cent fall in December, the Economy Ministry said on Tuesday. "After a weak phase in the second half of 2015, the manufacturing sector had a very good start to the new year," the ministry said releasing the data. "A moderate recovery in industrial activity is expected in the first quarter," it said. The January rise represented the biggest increase in industrial production since September 2009. Analysts surveyed by dpa-AFX had expected a rise of just 0.5 per cent in January. The ministry also significantly revised up the December figure from a preliminary estimate of a 1.2-per-cent fall. Output was 2.2-per-cent higher in January compared with the same month in 2015. Leading the monthly January rise was 7-per-cent jump in output in the construction industry, which is likely to reflect the nation's mild winter weather. Overall, output in the manufacturing sector was up 3.2 per cent in January. --SPA 18:45 LOCAL TIME 15:45 GMT www.spa.gov.sa/w

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