Surprise output rise suggests Germany may skirt recession
FILE PHOTO: Employees of German car manufacturer Porsche work on a sports car at the Porsche factory in Stuttgart-Zuffenhausen, Germany, January 26, 2018. REUTERS/Ralph Orlowski/File Photo
BERLIN - German industrial output rose unexpectedly in August, data showed on Tuesday, providing a shimmer of hope that an expected contraction in Europe’s biggest economy in the third quarter would not be steep. Industrial output rose by 0.3% on the month, figures released by the Statistics Office showed, confounding expectations for a drop of 0.1%.
The rise was driven by a positive impetus from the production of intermediate and capital goods, the Economy Ministry said.Writing by Joseph Nasr; Editing by Michelle Martin
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