By Tuba Ongun
ANKARA (AA) – Germany’s industrial output rose more than market estimates in February, according to official data released on Thursday.
Industrial production rose 2% month-on-month in February, following an upwardly revised 3.7% gain in January, German statistical authority Destatis said in a statement.
The market forecast was a 0.1% monthly increase for February.
The manufacturing of motor vehicles and parts, Germany’s largest industrial sector, surged 7.6% from the prior month while construction industry production climbed 1.5%.
The production of capital goods rose 3.4%, intermediate goods 1.8%, and consumer goods 1.4% in the same period.
On the other hand, energy production fell 1.1% from the prior month.
On an annual basis, Germany’s industrial production grew 0.6% in February.