(CercleFinance.com) – Industrial production in Germany rebounded in November, thanks in particular to the good performance of the energy sector, official data published Monday morning show.
In CVS data, industrial production rose 0.2% month-on-month after a revised decline of 0.4% in October (-0.1% in the previous reading), according to data from Destatis, the Federal Statistical Office.
Excluding energy and construction, industrial production recovered by 0.5%, driven in particular by the production of intermediate goods (+1.1%) and capital goods (+0.7%).
Production in the energy sector rose by 3%.
Despite the weakening of demand observed since last spring, German companies are still benefiting from their comfortable order books, explain the analysts.
‘The figures released today confirm the prospect that the German economy did not contract in the fourth quarter,’ commented Commerzbank teams this morning.
‘However, we continue to anticipate a slight contraction in activity over the first half of the year this new year’, specifies the German bank.
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