Arab Today, arab today german industrial production increases in november
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German industrial production increases in November

Arab Today, arab today

Arab Today, arab today German industrial production increases in November

Berlin - XINHUA

German industrial production increased more than expected in November 2013, official data showed on Thursday, adding signs that the Europe's largest economy is regaining its strength. Industrial output, adjusted for calendar and seasonal variations, increased by 1.9 percent from October, when the production dropped by 1.2 percent month-on-month, data from the Federal Economy Ministry showed. The increase exceeded economists' forecast, and reinforced the expectation that the German economy is regaining strength amid a European crisis which was expected to end soon. "The result in November indicates an increase of industrial production through the final quarter," stated the Economy Ministry. "The outlook for the manufacturing sector remains positive as a whole, signaled by both the upward trend in industrial orders as well as the confident mood in companies," it said. Earlier this week, the Ministry reported that German factory orders rose by 2.1 percent in November. More orders came from both domestic market and abroad, whose demand increased by 1.9 percent and 2.2 percent respectively. In December, Munich-based Ifo research institute found in its monthly survey that German business confidence hitted its highest level since spring 2012. "The German economy is in a festive mood," said Ifo President Hans-Werner Sinn. German exports also increased consecutively in November. Data from the Federal Statistical Office on Wednesday showed that German exports in November was up by 0.3 percent from October in calendar and seasonal adjusted term. Trade surplus thus widened to 17.8 billion euros (about 24.23 billion U.S. dollars) from 16.8 billion euros in the previous month. On the back of a global recovery, economists expected that Germany's export-oriented economy would recover in a faster pace in the new year, supported additionally by strong private consumption, as well as a rebound of investment. German central bank Bundesbank forecasted that the German economy would expand by 0.5 percent in 2013 and by 1.7 percent in the new year.

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