Germany industrial output accelerates 1.9 percent in November

Nathan Andrada – Fourth Estate Cooperative Contributor

Berlin, Germany (4E) – Industrial production in Germany jumped for the first time in three months in November, an indication that Europe’s biggest economy is gaining traction.

Industrial output in November jumped 1.9 percent on the month, compared to a 1.2 percent drop in October, surpassing economists’ estimates and prompting the ministry to release a positive assessment.

Economists forecasts an increase of 1.5 percent, according to the median estimates of 32 estimates economists surveyed by Bloomberg News. When adjusted for the number of working days, production rose 3.5 percent.

The report also showed that the outlook for Germany’s industry is “positive”, and strong production in November indicates a rise in total industrial output in the fourth quarter.

In November, German manufacturing output climbed 3.1 percent, with production of investment goods climbing 5.1 percent, according to the report.

The latest series of positive data, including strong exports in November, is a relief for Germany after it posted an unexpected weak start to the fourth quarter.

The German economy grew 0.3 percent in the third quarter to 0.4 percent in the fourth quarter, and will keep accelerating through early 2015, according to a separate report.

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