FX.co ★ German Industrial Output Unexpectedly Rises

Germany experienced a notable increase in industrial production in October, with a 1.8% month-on-month rise. This marks an improvement from the previous month's revised increase of 1.1% and surpasses market predictions, which had anticipated a 0.4% decline. This represents the most significant monthly growth since March, driven principally by increased output in sectors such as data processing equipment, electronic and optical products (up by 3.9%), and mechanical engineering (up by 2.8%). However, the automotive sector saw a 1.3% decline in production. Excluding energy and construction, production rose by 1.5%, bolstered by advancements in capital goods and consumer goods, both of which grew by 2.1%, along with a 0.6% rise in intermediate goods. Energy production saw a 1.4% increase, while the construction sector experienced a 3.3% expansion. Over the three months from August to October, industrial production decreased by 1.5% compared to the previous three-month period. On an annual scale, total industrial output rose by 0.8%, rebounding from a revised decrease of 1.4% in September.