German Industrial Production Surges in February, Outpacing Expectations
The German federal statistics office reported on Monday that industrial production in February saw a significant increase, surpassing expectations largely due to the construction sector’s strong performance.Â
The month-on-month production growth reached 2.1%, while analysts surveyed by Reuters had anticipated a modest increase of 0.3%.
Revised data also showed that January’s industrial output had a better-than-initially-reported performance, with a 1.3% increase over December, revised upwards from an initial estimate of 1.0%.
However, when looking at a less volatile measure, the three-month comparison from December 2023 to February 2024 indicated a slight downturn.
The data revealed a 0.5% decline in production during this period compared to the preceding three months.
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