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Saturday 23 August 2014

German industrial production grows

Published 07/04/2014 | 08:22

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A panel of independent economic advisers last month raised its 2014 growth forecast for Germany.

German industrial production grew for the fourth consecutive month in February, underlining expectations of a pick-up in Europe's biggest economy, new gove rnment figures show.

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The Economy Ministry said today that production rose 0.4% compared with the previous month and it expects figures for the full first quarter to be "appreciably above" Germany's performance in last year's fourth quarter. In year-on-year terms, production was up 4.8% in February.

Germany's order book is also in good shape. Data released last week showed that industrial orders were up 0.6% on the month in February.

The government's panel of independent economic advisers last month raised its 2014 growth forecast for Germany to 1.9% from 1.6%. Last year, the economy grew by only 0.4%.

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