German industrial output beats expectations

| December 8, 2010 | 0 Comments

The good news just keeps on coming for Europe’s largest economy after the Economy Ministry today revealed industrial production rose by 2.9% in October - almost treble the 1% economists had expected.

Economists described it as “a good start to the fourth quarter”.

The figures indicate that Germany continues to drive the recovery of the euro zone after experiencing record economic growth.

Meanwhile, data yesterday revealed industrial orders grew by 1.6% in October compared with September.

Domestic orders increased 2.4% in the month, fuelled by a 3.9% surge in demand for investment goods.

Meanwhile, export orders grew 0.8% and this was due to high demand from outside the euro area.

Europe’s largest economy is on track for record growth this year and the latest data reinforces this.

Tags: Economy Ministry, , , , , Industrial orders, industrial production, , , , ,

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