German February industrial output rises slightly more than expected
Written by Fox News on April 5, 2019
FILE PHOTO: A steel worker of Germany’s industrial conglomerate ThyssenKrupp AG wears protection helmet as he works near a blast furnace at Germany’s largest steel factory in Duisburg, Germany, January 28, 2019. REUTERS/Wolfgang Rattay/File Photo
April 5, 2019
BERLIN (Reuters) – German industrial output rose in February on stronger construction and capital goods production in positive news for Europe’s largest economy, which is suffering from trade friction and Brexit angst after narrowly avoiding recession last year.
Industrial output rose by 0.7 percent on the month, compared to a forecast 0.5 percent increase, data from the Statistics Office showed on Friday. January’s reading was revised up to 0.0 percent from a previously reported contraction of 0.8 percent.
On Thursday, Germany’s leading economic institutes slashed their forecasts for 2019 growth by more than half and warned that the economy could slow much more if Britain quits the European Union without an agreement.
(Writing by Paul Carrel; Editing by Tassilo Hummel)
Source: OANN
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