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Germany's industrial production expands, export grew slower

Staff Writer | April 7, 2017
Germany's industrial production expanded unexpectedly in February, data from Destatis showed.
Germany's industrial production
Economy in Germany   Data from Destatis
Industrial output grew 2.2% month-on-month in February, the same pace of growth as seen in January. Output was expected to drop 0.2%. January's growth was revised up from 2.8%.

Excluding energy and construction, industrial output gained 0.9% in February.

Within industry, energy production grew 0.6% and construction output surged 13.6%.

The production of capital goods gained 1.1% and that of consumer goods by 1.4%. At the same time, production of intermediate goods showed an increase by 0.4%.

Germany's exports grew at a slower pace in February, while imports declined for the first time in five months, figures from Destatis showed Friday.

Exports climbed 0.8% month-on-month in February, slower than January's 2.4% increase. Nonetheless, the increase was in contrast to economists' forecast of 0.5% fall.

At the same time, imports slid 1.6%, reversing January's 2.8% increase. Economists had forecast a 0.2% rise.

As a result, the trade surplus increased to a seasonally adjusted EUR 21 billion from EUR 18.9 billion in January.

On a yearly basis, exports growth eased to 3.1% from 11.7%. Likewise, imports growth came in at 3.7% versus 11.4% a month ago.

Further, data showed that the current account surplus dropped slightly to EUR 20.4 billion in February from EUR 20.6 billion in the prior year.