German industrial output rebounds in November

Industrial production in Germany rebounded in November after two months of decline, official data showed Tuesday, adding to signs of a healthy economy entering the new year.

Output from industrial firms increased 3.4 percent month-on-month in November, federal statistics authority Destatis said.

Manufacturers reported a 4.3-percent boost to production, with the most powerful increase among makers of capital goods, followed by consumer and producer goods makers.

Construction firms saw a slower expansion at 1.5 percent, while energy producers' output fell back by 3.1 percent.

"After two months of retreat, industrial manufacturing is expanding tangibly again," the economy ministry in Berlin commented in a statement.

"Positive developments in industrial orders and an optimistic business mood point to lively development in industry in the months ahead."

Destatis also noted that exports of German goods increased 8.2 percent year-on-year in November after a surge compared with the previous month.

ING Diba bank economist Carsten Brzeski pointed to "a clear upward trend" in German industrial data.

Over the full year 2017, "it looks likely that the German economy has had its best performance since 2011, and there is currently very little reason to believe that the strong performance could end any time soon," he added.

Source:AFP