Germany industrial output jumps in boost for economy
Summary
German industrial production rose unexpectedly in October 2024, driven by construction and machinery sectors, suggesting the economy may be stabilizing despite ongoing challenges in the auto sector and weak foreign demand.
Key Points
- German industrial production increased by 1.8% month-on-month in October 2024, following a 1.1% rise in September.
- Growth was driven by the construction sector (up 3.3%) and machinery and equipment manufacturing (up 2.8%).
- The auto sector saw a 1.3% decline amid ongoing crisis challenges.
- The German government expects slow economic growth of 0.2% in 2025, with a forecasted pick-up in 2026 supported by increased public spending on defence and infrastructure.
