German industrial production rebounds in Nov

Frankfurt am Main: Industrial production in Europe’s top economy Germany regained some ground in November after two months of slippage, official data showed on Thursday, but exports from Europe’s powerhouse fell back. Producer firms reported 1.1 per cent month-on-month growth in output, statistics authority Destatis said in seasonally-adjusted figures. Meanwhile the statisticians also revised October’s production figure, calculating a fall of 1.0 per cent rather than 1.7 per cent as previously reported. Looking to different areas of industry in November, only producer goods firms’ output slowed, while consumer goods makers added 0.5 per cent and capital goods firms 2.4 per cent. But the economy ministry in Berlin cautioned against over-optimism in a statement. In a two-month comparison of October-November to August-September, production fell 0.7 per cent, it noted. “Weak economic performance in industry has not yet been overcome,” the ministry said, although, “stabilisation in new orders and improved expectations point to some brightening in the coming months.” — AFP