Salem Radio Network News Tuesday, March 21, 2023


German industrial output rises more than expected in January

BERLIN (Reuters) – German industrial production rose significantly more than expected in January, increasing by 3.5% on the previous month, the federal statistical office said on Wednesday.

In a Reuters poll, analysts had pointed to an increase of 1.4% for the month.

The positive development “was driven in particular by strong growth in the manufacturing of electronic equipment … and chemicals,” the statistics office said.

It added that motor vehicle and motor vehicle parts manufacturing, as well as pharmaceutical products manufacturing, had shown a strong negative trend.

Also on Wednesday, the statistical office said that German retail sales had fallen unexpectedly in January by 0.3% in real terms compared to the previous month.

Analysts polled by Reuters had forecast a 2.0% rise in

price-adjusted terms.

The office offers more detailed data on its website.

(Reporting by Friederike Heine; Editing by Paul Carrel and Matthias Williams)


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