German industrial production sees surprise dip
German industrial production sees surprise dip
Frankfurt am Main - Egypt Today
German industrial production unexpectedly slipped for the second month in a row in October, official data showed on Thursday, but the rare blip is unlikely to throw Europe's humming top economy off course.
Output from industrial firms fell 1.4 percent month-on-month, federal statistics office Destatis said, whereas analysts had predicted a rise of 0.8 percent.
The drop however was mainly down to public holidays and extended weekends in October, the economy ministry said in a statement, adding that it expected the positive growth momentum to continue in Germany.
"All soft and hard indicators actually point to a strong surge in industrial production in November," agreed economist Carsten Brzeski of ING Diba bank.
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