German industrial output drops in February

Industrial output in Germany fell a seasonally adjusted 0

Industrial output in Germany fell a seasonally adjusted 0.7 per cent in February compared to January, according to preliminary data from the Economy and Labour Ministry, slightly beating economists' expectations.

Economists forecast on average a fall of 0.9 per cent. In January output rose 3.2 per cent compared to December.

February's fall was due mainly to a seasonally adjusted 4.4 per cent fall in construction output compared to January, the ministry said, due to particularly cold weather. Manufacturing output fell 0.3 per cent, it said.

Year-on-year and adjusted only for the number of working days, industrial output rose 0.4 per cent in February, after rising 1.5 per cent in January.

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On a two-monthly basis, industrial output rose a seasonally adjusted 1.0 per cent in January-February compared to November-December, and rose 0.9 per cent compared to January-February 2002 when adjusted only for the number of working days.

Construction output was down a seasonally 6.8 per cent in January-February compared to November-December, and slumped 17.3 per cent compared to January-February 2002 when adjusted only for the number of working days.

Industrial output rose a seasonally adjusted 1.9 per cent in January-February compared to November-December, and rose 2.3 per cent compared to January-February 2002 when adjusted only for the number of working days.

AFP