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Germany’s industrial output increased 2.5%

by ChemOrbis Editorial Team -
  • 07/10/2016 (18:16)
According to data released by Germany’s Economy Ministry, the country’s industrial production increased 2.5% in August after adjusting for seasonal swings and inflation from a fall of 1.5% in July, beating economists’ expectations calling for a 1% increase in August. With this level, it posted the highest increase since January. Industrial production also rose by 1.9% in August from the same month of the previous year.

The data shows that manufacturing output rose 3.3% in August. Meanwhile, investment-goods, consumer goods end energy output also rose by 4.7%, 3.3%, and 1.1%, respectively while the construction output decreased 1.2% in August.

Despite the positive figures, the Bundesbank has softened the outlook expecting softer growth in the third quarter, and there are many concerns about the results of Brexit.

“With today’s data, the outlook for the third quarter all of a sudden looks much brighter,” chief economist at ING-Diba AG in Frankfurt, Carsten Brzeski said.
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