FOREX TradingCharts.com

Financial News: Germany's Industrial Production Growth Improves

Germany's Industrial Production Growth Improves

11/06/2020 - 07:11:00 (RTTNews)

(RTTNews) - Germany's industrial production growth accelerated in September, albeit at slower than expected pace ahead of new restrictions imposed to contain the coronavirus, data released by Destatis showed on Friday.

Industrial output climbed 1.6 percent on month, bigger than the revised 0.5 percent rise seen in August but slower than economists' forecast of 2.7 percent.

Excluding energy and construction, production in industry was up 2.0 percent in September.

Within industry, production of intermediate goods showed an increase of 1.4 percent. Output of consumer goods advanced 3.0 percent and that of capital goods by 2.2 percent.

Production in the automotive industry, the largest segment of manufacturing, grew 10 percent on the previous month.

Outside industry, energy production was down 2.5 percent, while construction output grew 1.5 percent.

Data showed that annual fall in industrial production came in at 7.3 percent in September. However, this was slower than the 8.7 percent fall logged in August.

Compared with February, the month before restrictions were imposed due to the corona pandemic in Germany, production were 8.4 percent lower in seasonally and calendar adjusted terms.

Given the sentiment impact from the latest lockdown measures but also weaker foreign demand as many other eurozone countries have also gone into lockdown again, this positive momentum in industrial production will not be enough to avoid double dip for the German economy, Carsten Brzeski, an ING economist said.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Australia Data On Tap For Thursday (29 min(s), 24 sec(s) ago)
(RTTNews) - Australia is scheduled to release a batch of data on Thursday, setting the pace for a ...Full Story»

Most Fed Districts Characterize U.S. Economic Growth As Modest Or Moderate (02 hr(s), 39 min(s), 24 sec(s) ago)
(RTTNews) - Economic growth in the U.S. has been characterized as modest or moderate by most Feder ...Full Story»

U.S. Private Sector Job Growth Misses Estimates In November (08 hr(s), 05 min(s), 24 sec(s) ago)
(RTTNews) - Payroll processor ADP released a report on Wednesday showing private sector employment ...Full Story»

U.S. Private Sector Employment Rises Less Than Expected In November (08 hr(s), 37 min(s), 24 sec(s) ago)
(RTTNews) - Payroll processor ADP released a report on Wednesday showing private sector employment ...Full Story»

Eurozone Unemployment Rate Continues To Fall (09 hr(s), 28 min(s), 24 sec(s) ago)
(RTTNews) - The euro area unemployment rate continued to fall in October with the gradual relaxati ...Full Story»

Ireland Jobless Rate Rises In November (09 hr(s), 51 min(s), 24 sec(s) ago)
(RTTNews) - Ireland's jobless rate rises in November, figures from the Central Statistics Offi ...Full Story»

Portugal Industrial Production Growth Slows (10 hr(s), 04 min(s), 24 sec(s) ago)
(RTTNews) - Portugal's industrial production grew at a softer pace in October, figures from St ...Full Story»

Italy Jobless Rate Rises In October (10 hr(s), 17 min(s), 24 sec(s) ago)
(RTTNews) - Italy's jobless rate rose in October, data from the statistical office ISTAT showe ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Australia Data On Tap For Thursday

12/02/2020 - 16:30 PM (RTTNews)
(RTTNews) - Australia is scheduled to release a batch of data on Thursday, setting the pace for a ...Full Story>>

Most Fed Districts Characterize U.S. Economic Growth As Modest Or Moderate

12/02/2020 - 14:20 PM (RTTNews)
(RTTNews) - Economic growth in the U.S. has been characterized as modest or moderate by most Feder ...Full Story>>

U.S. Private Sector Job Growth Misses Estimates In November

12/02/2020 - 08:54 AM (RTTNews)
(RTTNews) - Payroll processor ADP released a report on Wednesday showing private sector employment ...Full Story>>

U.S. Private Sector Employment Rises Less Than Expected In November

12/02/2020 - 08:22 AM (RTTNews)
(RTTNews) - Payroll processor ADP released a report on Wednesday showing private sector employment ...Full Story>>

Eurozone Unemployment Rate Continues To Fall

12/02/2020 - 07:31 AM (RTTNews)
(RTTNews) - The euro area unemployment rate continued to fall in October with the gradual relaxati ...Full Story>>

Do not sell my personal information

Copyright © 2020. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.