Industrial output in Germany grew more than expected in August, official data showed Monday, underpinning hopes of solid third-quarter economic output in Europe’s largest economy.
Industrial output increased by 2.6% in August from July, adjusted to seasonal swings and calendar effects, the economic ministry said. Economists in The Wall Street Journal’s survey forecast on-month growth of 0.9%.
The higher-than-expected growth follows the release of manufacturing orders data for August on Friday that showed a surge that more than compensated for July’s unexpected decline.
Industrial output has been on an strong upward trend since the beginning of the year, and favorable business sentiment and growth in manufacturing orders “speak for a continuation of the good industrial activity,” the ministry said in a statement.
Source: Dow Jones