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Financial News: Germany's Industrial Production Recovers In January

Germany's Industrial Production Recovers In January

03/09/2020 - 03:11:00 (RTTNews)

(RTTNews) - Germany's industrial production rebounded at a faster than expected pace in January, data from Destatis revealed on Monday.

Industrial production grew 3 percent on a monthly basis, reversing a 2.2 percent drop in December. Production was forecast to grow moderately by 1.7 percent.

At the same time, industrial output fell 1.3 percent from last year, but slower than the 5.3 percent decrease logged in December. Economists had forecast an annual decrease of 3.8 percent.

Excluding energy and construction, industrial production was up 2.9 percent. Energy production slid 0.2 percent, while construction output increased 4.7 percent.

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