Germany’s Jan industrial production up, factory orders down
The output in energy and construction, which pulled the country’s output growth down, dropped by 0.7% and 1.3% respectively. Excluding energy and construction, industrial production was up by 3.7%.
The data also showed the country’s output in January on a yearly basis remained flat from December when it dropped by 0.1%.
Meanwhile, Germany’s factory orders posted the biggest monthly decrease of eight years in January by 7.4%, after the fastest monthly increase of more than two years by 5.2% in December. On annual basis, factory orders were also down by 0.8% in January.
The biggest decrease in orders was seen in capital goods at 9.9% while new orders for intermediate goods and consumer goods posted respective drops of 4% and 2%.
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