Surge in construction drives German industry output higher

German industrial output rose slightly more than forecast in January, driven by a surge in construction, suggesting the industrial sector started 2014 in good shape.

Industry production climbed by 0.8 per cent, helped by a 4.4 per cent increase in construction activity, data from the economy ministry showed. That beat the consenus forecast in a Reuters poll of economists for a 0.7 per cent rise.

The data for December was revised up to an increase of 0.1 per cent from a previously reported drop of 0.6 per cent. (Reuters)