Germany's industrial output tops estimates in February

ANKARA

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.