German industrial production climbed in September and the August figure was revised higher in the second piece of upbeat economic news from Europe’s biggest economy to be released this week.
The wide-ranging gauge was up 0.2 per cent in September compared to August, the Federal Statistics Office said. The August figure was revised to a gain of 0.1 per cent from a fall of 0.3 per cent initially reported.
Growth in September was driven by increased production of capital goods, with contributions from the construction and energy sectors.
The news follows the release of data on factory orders unveiled on Monday, which beat analyst expectations, after a series of disappointing readings.
Signs of a slowdown in Europe’s largest economy have appeared in recent data. Eurozone growth figures for the third quarter were the weakest since 2014, and in part blamed on a weaker German car manufacturing due to a new emissions testing regime.
ING said: “Already released data for the eurozone as a whole and several member states has suggested that either the first estimate for the eurozone [GDP] was too low or the German economy almost came to a standstill. All available data suggest that the latter seems to have been the case.”
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