An employee of German car manufacturer Porsche works on a Porsche 911 GT3 RS at the Porsche factory in Stuttgart-Zuffenhausen, Germany.
Berlin: German industrial output rose slightly more than expected in September, helped by strong growth in construction, data showed on Wednesday, offering some reassurance about the health of Europe’s largest economy in the third quarter.
Data from the Economy Ministry showed industrial output was up 0.2 percent in September, beating a Reuters forecast for a 0.1 percent rise. This was the second consecutive monthly increase after the August figure was revised up to 0.1 percent from a previously reported decrease of 0.3 percent.
The Economy Ministry said a weak phase in the industrial sector in the third quarter was temporary and mostly linked to slower production in the automotive sector due to adjustments for a new pollution standard.
“A revival in industrial production is expected by the end of the year,” said the ministry in a statement.
The German government’s economic advisors have slashed this year’s growth forecasts to 1.6 percent from a previous estimate of 2.3 percent on fears about a trade war with the United States and the risk of a disorderly Brexit, media have reported.