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German industrial production short of forecast in January, but December figure revised up

By: The Associated Press

Friday, Mar. 8, 2013 at 7:42 AM | Comments: 0

A man works on storage containers in Duisburg, Germany, Feb. 14, 2013. THE CANADIAN PRESS/AP, Frank Augstein

BERLIN - Industrial production in Germany was flat in January, falling short of expectations for a small increase — but the previous month's figure was revised higher.

The Economy Ministry said Friday that production was unchanged compared with the previous month. Economists had expected a 0.4 per cent increase.

That followed a 0.6 per cent rise in December, revised from an initial reading of 0.3 per cent.

On Thursday, official data showed an unexpected 1.9 per cent decline in industrial orders in January, caused by lower demand for German exports and an unusually small number of big orders.

That was a disappointment after other recent indicators pointed to an upturn in Europe's biggest economy, widely expected to return to growth in the current quarter after shrinking by 0.6 per cent in the October-December period.

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