The growth in Germany’s industrial production accelerated beyond expectations in February, according to data released by Destatis on Monday. Industrial output experienced a monthly increase of 2.1 percent, up from a revised 1.3 percent in January.However, year-on-year industrial production experienced a drop of 4.9 percent following a slightly higher 5.3 percent drop in the previous month. The spike in monthly growth can be attributed to a 7.9 percent increase in construction output. In contrast, energy output saw a decline of 6.5 percent.Excluding energy and construction, industrial production experienced an increase of 1.9 percent. This positive shift is primarily due to the growth in the automobile and chemical industries.The material has been provided by InstaForex Company – www.instaforex.com
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