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Financial News: German Industrial Production Unexpectedly Rises In March

German Industrial Production Unexpectedly Rises In March

05/08/2019 - 03:52:00 (RTTNews)

(RTTNews) - Germany's industrial production rose for a second straight month in March and at the fastest pace in three months, defying expectations for a decline, preliminary data from the Federal Statistical Office showed on Wednesday.

Industrial production grew 0.5 percent monthly following a 0.4 percent increase in February, which was revised from 0.7 percent. Economists had forecast a 0.5 percent slump.

Production decreased 0.9 percent year-on-year after a 0.2 percent rise in February. Economists had expected a 2.7 percent fall.

Excluding energy and construction, industrial production rose 0.4 percent monthly in March.

Output of intermediate goods grew 0.4 percent and those of consumer goods climbed 1.1 percent. Capital goods production was unchanged.

Energy production rose 0.3 percent and construction output increased 1 percent.

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