German industrial production jumps in October

FRANKFURT AM MAIN (AFP) – German industrial output beat expectations in October, official data showed yesterday, reflecting a continuing rebound in Europe’s largest economy before the latest restrictions to control the pandemic were imposed.

Industrial production rose 3.2 per cent month-on-month, federal statistics agency Destatis said, driven by a strong performance in Germany’s key car industry.

It was the sixth month in a row that production increased, and beat expectations of a 1.5-per-cent rise from analysts surveyed by FactSet.

However, output remains below pre-pandemic levels, with the October figure three per cent below the same month in 2019.

Output in Germany’s key auto industry rose by 9.9 per cent in October compared with September, although it is six per cent down on the pre-pandemic levels seen in February 2020, Destatis said.

Hoping to curb a second coronavirus wave, Chancellor Angela Merkel’s government introduced new measures for November targetting hospitality, culture and leisure services, which have since been extended to January 10.