Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

German industry output rises less than expected in October

Published 12/07/2016, 02:08 AM
Updated 12/07/2016, 02:10 AM
© Reuters. A German steelmaker ThyssenKrupp worker controls a blast furnace in Duisburg

BERLIN (Reuters) - German industrial production rose less than expected in October, data showed on Wednesday, in a sign that Europe's biggest economy started the fourth quarter on a weak footing.

Industrial output edged up by 0.3 percent on the month, data from the Economy Ministry showed. This undershot the consensus forecast in a Reuters poll for a rise of 0.8 percent.

The slight increase was driven by a 1.7 percent jump in construction output, the strongest monthly gain since February. But manufacturing production was almost flat, edging up only 0.1 percent, and energy output fell 0.5 percent.

The September reading was revised up to a fall of 1.6 percent from a previously reported drop of 1.8 percent.

© Reuters. A German steelmaker ThyssenKrupp worker controls a blast furnace in Duisburg

"Overall, industrial production had a subdued start to the fourth quarter," the Economy Ministry said in a statement, adding that the recent strong rise in industrial orders had yet to result in stronger output.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.