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German industrial output rebounds and beats forecasts

German industrial output
Germany   An unusual shift in vacation days

German industrial production rebounded in August from a weak July, as a pickup in manufacturing production made up for a drop in construction output, data from the Economics Ministry showed.


German industrial production - adjusted for seasonal swings and calendar effects -rose 2.5% from the preceding month, beating forecasts. Economists polled by The Wall Street Journal had forecast a 0.8% gain.

But the results should be viewed with caution in light of "an unusual shift in vacation days" over the summer months, the ministry said. "All in all, the results point to a muted increase in industrial production in the third quarter."

August's increase was led by a 3.3% rise in manufacturing output, as capital goods production jumped 4.7% from the preceding month, after dropping 4% in July. But construction activity was weak in August, with output down 1.2% from July.

Compared with August last year, German industrial production was up 1.9%, adjusted for calendar effects.

 

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