German industrial production rose 0.7% in September from the previous month, beating the stagnation analysts expected. A downward revision to August tempered the surprise.
German industrial production unexpectedly rose 0.7% in September from the previous month, the federal statistics office said on Friday. A seasonal upswing in the car industry drove the gain.
Analysts polled by Reuters had forecast stagnation. However, the figure for August was revised down to a month-on-month gain of 1% from an initial read-out of 2%.
Compared with the year-earlier month, September industrial output rose 0.4%. Joerg Kraemer, chief economist at Commerzbank, said industrial production continues to move sideways at a low level.
Source: Investing.com (Reuters)
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