FX.co ★ German Industrial Production Recovers In January

Industrial production in Germany showed a positive trend in January, data from Destatis revealed on Friday. In a notable shift, industrial production went up by 1.0 percent in contrast to a 2.0 percent drop observed in December. This increase surpassed the projected growth of 0.6 percent.

When excluding energy and construction, industrial production experienced a 1.1 percent increase compared to December. There was a marked rise seen in the production of intermediate goods which increased by 4.4 percent, as well as in consumer goods output which went up by 4.0 percent. Conversely, capital goods output saw a decrease of 2.1 percent.

The data also highlighted that energy production took a hit with a decline of 3.7 percent in January. Conversely, relative to the previous month, construction output showed an upward trend with an increase of 2.7 percent.