Germania Produzione Industriale (Mensile)

German industrial production rose by 2.1% month-over-month in February 2024, accelerating from an upwardly revised 1.3% gain in January and exceeding market estimates of 0.3%. It was the second straight month of increase in industrial output, marking the fastest expansion since January 2023, boosted by construction activity (7.9%) while the output in the automotive (5.7%) and chemicals industry (4.6%) also soared. At the same time, production grew for all components: intermediate goods (2.5%), consumer (1.9%), and capital ones (1.5%). The less volatile three-month on three-month comparison showed that production was 0.5% lower in the period from December 2023 to February 2024 than in the previous three months. Yearly, industrial output fell 4.9% in February, softer than the prior 5.3% slump.