Construction boosts German industrial production in MarchStaff Writer | May 9, 2017
Industrial production in the euro area's largest economy was boosted by construction sector activity last month.
Germany Total German industrial production shrank
That was better than forecasts calling for a drop of 0.7%, but downwards revisions to data for previous months meant the year-on-year rate of output fell to 1.9% (consensus: 2.5%) after a rise of 2.0% in February.
Construction output added to February's month-on-month jump of 9.9%, rising by 1.3%.
Despite that, for the first quarter of 2017 as a whole total industrial production was 1.3% higher, following a rise of 0.4% at the tail-end of 2016.
Output of capital goods declined by 1.2% in comparison to February, but after a combined rise of 4.1% over the prior two months.
Energy output shrank by 2.5%. ■