Germany's industrial output grows much faster than expected

ANKARA

Germany’s industrial output rose far more than market estimates in November, according to official data released on Thursday.

Production in industry grew 1.5% month-on-month in November, reversing October's upwardly revised 0.4% decline, German statistical authority Destatis said in a statement.

The market had forecast the output to gain 0.5% in the month.

The improvement was mainly led by a 5.6% increase in energy, a 2.1% rise in construction, and the "manufacture of other transport equipment" sector (aircraft, ships, trains, military vehicles) jumping 11.4%.

The production of capital goods rose 1.4%, consumer goods 0.9%, and intermediate goods 0.5%, it added.

On an annual basis, Germany’s industrial production fell for the 18th consecutive month, falling 2.8% in November.