German Industrial Production Jumps More Than Forecast
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Industrial production in Germany, Europe’s largest economy, rose almost three times as much as economists forecast in October, led by demand for investment goods such as machinery.
Production jumped 2.9 percent from September, when it fell a revised 1 percent, the Economy Ministry in Berlin said today. That’s the biggest increase since May. Economists had forecast a gain of 1 percent, the median of 40 estimates in a Bloomberg News survey showed. From a year earlier, output increased 11.7 percent when adjusted for the number of work days, after rising a revised 7.7 percent in September.