(ANSA-AFP) - FRANKFURT AM MAIN, MAR 8 - German industrial
production rose for the first time in nearly a year in January,
official data showed Friday, fuelling hopes that a manufacturing
slowdown in Europe's biggest economy was bottoming out. Output
climbed by 1.0 percent month-on-month, federal statistics agency
Destatis said, after a revised two-percent drop in December.
Analysts surveyed by FactSet were expecting a smaller rebound of
0.7 percent. "Industrial production is starting 2024 with the
first noticeable increase since February 2023," the German
economy ministry said in a statement. Production in the
chemical, food and machine assembly sectors rose sharply in
January, Destatis said, while auto manufacturing declined. High
inflation, costly energy and weaker demand from key market China
have all weighed heavily on Germany's key manufacturing sector
in recent months. (ANSA-AFP).
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