German industrial production rises more than expected in November, promising sign for economy

The Associated Press 0

BERLIN – German industrial production picked up in November, rising by a bigger-than-expected 1.9 per cent compared with the previous month in a positive signal for Europe’s biggest economy.

The increase reported Thursday by the Economy Ministry was better than the 1.5 per cent rise economists had expected. It followed two consecutive declines, most recently a 1.2 per cent drop in October.

On Wednesday, official data showed that industrial orders were up 2.1 per cent in November, making up for a fall by the same amount the previous month.

Carsten Brzeski, an economist at ING, said the latest data “add further evidence that the German economy has regained momentum” after a disappointing start to last year’s fourth quarter.

Germany will release preliminary economic growth figures for 2013 next week. Growth is expected to accelerate this year.

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