FRANKFURT, GERMANY (AFP) – Germany’s industrial production rebounded in January, official data published yesterday showed, prompting cautious optimism that Europe’s biggest economy might be able to dodge a recession.
Output rose 3.5 per cent on the previous month, after declining by 2.4 per cent in December, federal statistics agency Destatis said.
The Economy Ministry voiced “cautious” optimism about the outlook as the easing of supply woes and strong order books meant that the “economic slowdown at the beginning of the year will be moderate”.
Besides energy and construction works, industrial output rose 1.9 per cent from December.
Huge disparities were seen in different sectors.
Electronic equipment manufacturers and chemical production pulled up the indicator with growth of 7.1 per cent and 9.8 per cent, respectively.
But car and automobile components production as well as pharmaceutical manufacturing fell by 5.2 per cent and 12.9 per cent, respectively. Both are key pillars of the German industry.
Compared to a year ago, industrial output fell by 0.9 per cent.
