Germany’s industrial production rose to the highest level over the past six years. Thus, Europe’s largest economy is set to show steady third-quarter growth.
The industrial production advanced by 2.6% from the previous month, marking the fastest pace of growth since July 2011, the Federal Ministry for Economics and Labour said. Meanwhile, experts had anticipated a 0.9% increase.
The factory output increased by 4.7% from August 2016, while analysts had expected a 2.9% rise. The July score was revised up to a 4.2% increase from a 4% rise on a yearly basis.
In August, production of intermediate goods rose by 1.8%, capital goods output jumped by 4.8%, while consumer goods production advanced by 2.1%.
Power production rose by 1.7%, while construction output decreased by 1.2%. Production in the manufacturing and mining industry grew by 3.2% on a monthly basis.
As a result, the data published at the end of last week showed that strong foreign demand, particularly, demand from non-eurozone nations, sparked a jump by 3.6% in industrial orders, at the fastest pace since December 2016.
