German exports jump but output posts weaker-than-forecast gain

GMT 11:39 2014 Friday ,07 November

Arab Today, arab today German exports jump but output posts weaker-than-forecast gain

German President Joachim GauckGerman President Joachim Gauck
Berlin - SPA

Germany's key industrial sector rebounded in September as exports rose faster than forecast and production picked up, data released Friday by the statistics office showed.
But underlining concerns about a slowdown in Europe's biggest economy, the monthly 1.4-per-cent gain in industrial production was less than the 2 per cent forecast by analysts surveyed by dpa-AFX.
The September fall also failed to even make up half the hefty 3.1-per-cent drop in monthly production during August.
As a result, output contracted by 0.4 per cent in the three months to the end of September compared with the second quarter.
Exports, however, jumped by 5.5 per cent after falling 5.8 per cent in August, the statistics office said.
Friday's trade data also showed imports rebounding 5.4 per cent in September following a 1.3-per-cent drop in August.
Analysts had expected a 2.7-per-cent gain in monthly exports in September and 1.1-per-cent rise in imports.
The release of the latest production and trade data followed the publication on Thursday of figures showing German factory orders also coming in weaker than forecast in September.
Monthly industrial order books grew by 0.8 per cent in September after posting a steep 4.2-per-cent fall in August, the statistics office said. Analysts had predicted a rise of 2.3 per cent in September.
The statistics office also revised up the August figure from an originally estimated 5.7-per-cent fall.
As a result, new orders edged 0.1 per cent higher during the third quarter, analysts said.

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