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German industrial output rebounds

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Christian Fernsby ▼ | March 9, 2020
Germany's industrial production rebounded at the fastest pace in more than two years, while overall exports remained unchanged in January as shipments to China went down, data from Destatis revealed today.
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However, the outlook remains bleak as Wuhan coronavirus has hurt economic activity in a big way and caused supply chain disruptions across the world. At the start of the week, the government announced support measures for companies and workers.

Topics: German

Industrial production grew 3 percent on a monthly basis, reversing a revised 2.2 percent drop in December. Production was forecast to grow moderately by 1.7 percent. This was the biggest growth since November 2017.

At the same time, industrial output fell 1.3 percent from last year, but slower than the 5.3 percent decrease logged in December, and the expected annual fall 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 due to mild weather.

In spite of the recently more favorable development of incoming orders and the business climate, the outlook for the manufacturing industry remains uncertain due to the new risks from the spread of the Corona virus, the economy ministry said.


 

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