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German industry output rises less than expected in October
December 7, 2016 / 7:04 AM / a year ago

German industry output rises less than expected in October

BERLIN, Dec 7 (Reuters) - German industrial production rose less than expected in October, data showed on Wednesday, in a sign that Europe’s biggest economy started the fourth quarter on a weak footing.

Industrial output edged up by 0.3 percent on the month, data from the Economy Ministry showed. This undershot the consensus forecast in a Reuters poll for a rise of 0.8 percent.

The slight increase was driven by a 1.7 percent jump in construction output, the strongest monthly gain since February. But manufacturing production was almost flat, edging up only 0.1 percent, and energy output fell 0.5 percent.

The September reading was revised up to a fall of 1.6 percent from a previously reported drop of 1.8 percent.

“Overall, industrial production had a subdued start to the fourth quarter,” the Economy Ministry said in a statement, adding that the recent strong rise in industrial orders had yet to result in stronger output. (Reporting by Michael Nienaber; Editing by Madeline Chambers)

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