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1.1 Percent growth registered by German industry in November


The production of German industry increased by 1.1 percent in November compared to the previous month. The German Federal Statistical Office reported this.

This increase is stronger than expected. Economists expected an increase of 0.8 percent on average. In October, industrial production fell by an adjusted 1 percent.

Industrial production in Germany declined by 2.6 percent on an annual basis. A month earlier there was a decrease by an adjusted 4.6 percent.

ING economist Carsten Brzeski calls the November figures mixed. Although there was an increase on a monthly basis, the production level is still lower than in the third quarter. A strong increase in December could still provide a positive note at the end of the year.

In a broader perspective, according to Brzeski, German industry is stuck between cyclical weakness, trade conflict and weaker growth, and structural problems. With the latter, he is referring to the difficult transition from the German car industry to electric driving and too low investments.

German exports fell more than expected in November. The country exported 2.3 percent fewer goods than a month earlier. Economists generally expected a decline of 0.9 percent. In October, exports increased by 1.2 percent on a monthly basis.

Written by: Patrick O'Brien

Patrick O'Brien is a student who is taking only the first steps in journalism. The main interest is events from the world of macroeconomics and finance.

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