German Industrial Production Rises in January

German industrial production leapt higher in January, a broad-based increase that was led by a large rise in construction output.

The Economy Ministry said Tuesday that production in Europe’s biggest economy was up 3.3 percent compared with the previous month, following small declines in November and December.

It was a far better performance than the 0.5 percent rise economists had expected, and was led by a 7 percent increase in construction activity amid relatively mild winter weather.

Economist Carsten Brzeski at ING-DiBa in Frankfurt said industrial production “sent a strong sign of life” but cautioned that the data “are almost too good to be true” in light of recent declines in German business confidence. On Friday, official data showed that industrial orders edged down 0.1 percent in January.

via Mainichi

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza