ZCZC
BCN-35
GERMANY-ECONOMY-INDICATOR-INDUSTRY
German industrial production shows timid gain in September
FRANKFURT AM MAIN, Nov 7, 2018 (BSS/AFP) – German industrial production
showed a slight gain in September following August’s small recovery, official
data showed Wednesday.
Industrial production rose 0.2 percent in September, the federal
statistics office Destatis said in a statement, slightly bettering analysts’
prediction of a gain of 0.15 percent.
Destatis also revised upwards its data for August, to show a small growth
of 0.1 percent instead of a slight decline earlier forecasted.
The fragile recovery came at a moment of high international trade tensions
due to US President Donald Trump’s multiple commerce battles including with
export giant China.
The positive data also came on the back of rising demand for German
industrial goods.
On Tuesday, Destatis reported that industrial companies reported a 0.3
percent month-on-month gain in new orders for September, strongly beating
analysts’ forecasts.
By sectors, production of investment goods rose 0.9 percent, while that of
partially-finished goods plunged 1.0 percent.
Consumer goods also declined 0.3 percent.
Beyond manufacturing, the construction sector grew 2.2 percent compared to
August, while energy shrank 3.3 percent.
BSS/AFP/HR/1445