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Germany’s factory output fall less than forecast in Feb

by ChemOrbis Editorial Team -
  • 06/04/2016 (13:44)
According to data compiled by Germany’s Economy Ministry, the country’s industrial output fell at a slower pace than expected in February, declining 0.5% on a seasonally adjusted basis compared with January’s gain of 2.3%. Economists’ estimates had called for a decrease of 1.8% in a survey conducted by Bloomberg. On a yearly basis, however, industrial output gained 1.3% in February.

The decrease stemmed from persistently weak global demand despite stronger domestic demand. Bundesbank reported that Germany’s economic growth may decelerate in the second quarter as weakening exports have been causing manufacturers to cut production and employment.

The data showed that construction output rose 1.3% on the month in February while investment goods output fell 1%. Intermediate goods production rose 0.1% while manufacturing and energy output dropped 0.5% and 1.8%, respectively.
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