BERLIN – Government data show that German industrial production grew for the fourth consecutive month in February, underlining expectations of a pickup in Europe’s biggest economy.
The Economy Ministry said Monday that production rose 0.4 per cent compared with the previous month and it expects figures for the full first quarter to be “appreciably above” Germany’s performance in last year’s fourth quarter. In year-on-year terms, production was up 4.8 per cent in February.
Germany’s order pipeline also is in good shape. Data released last week showed that industrial orders were up 0.6 per cent on the month in February.
The government’s panel of independent economic advisers last month raised its 2014 growth forecast for Germany to 1.9 per cent from 1.6 per cent. Last year, the economy grew by only 0.4 per cent.