German Industrial Production Recovers

(RTTNews) - Germany's industrial production recovered at a stronger-than-expected pace in August, data published by Destatis revealed Wednesday.

Industrial output expanded 2.0 percent on a monthly basis, in contrast to the 1.2 percent decrease in July. Production was expected to grow 0.5 percent. On a yearly basis, industrial production grew 2.3 percent, reversing July's 1.8 percent fall.

The growth was driven by the 9.3 percent increase in construction output. Meanwhile, energy production was down 0.4 percent.

Excluding energy and construction, industrial production rose 0.6 percent, data showed.

Production of capital goods climbed 1.2 percent and consumer goods output gained 0.6 percent. Meanwhile, intermediate goods output dropped 0.2 percent.