slot paraiso German exports and production pick up in November
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Berlin, Germany — German exports and industrial production picked up in November, official data showed on Thursday, in a rare glimmer of hope for Europe’s largest economy.
Industrial production rose 1.5 percent in November on the previous month, the federal statistics agency Destatis said.
Article continues after this advertisementThe figure was higher than the 0.5 percent increase expected by analysts consulted by the financial data firm FactSet.
Meanwhile, the yen hit its highest level in nine months after a Bank of Japan official said decision-makers would stick to their tightening plan if the economy and inflation perform as expected.
FEATURED STORIES BUSINESS 68% of PH workers need to upskill, says WEF study BUSINESS Mining sector poised for growth BUSINESS Gen Zs driving boom: PH digital lending market to exceed $1B this yearIndustrial output rose across a variety of sectors, with the production of heavy vehicles such as ships and trains and the energy sector leading the way with rises of 11.4 percent and 5.6 percent respectively.
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Article continues after this advertisementProduction across all sectors, however, remained 2.8 percent below the level of November 2023.
Article continues after this advertisementGerman exports rose 2.1 percent in November, Destatis said, rebounding after a fall of 2.8 percent in October.
Article continues after this advertisementNovember’s total exports of 127.3 billion euros ($131 billion) were still 3.5 percent below the same month last year, Destatis said.
ING bank analyst Carsten Brzeski said the figures were not strong enough to indicate a “substantial recovery” in the German economy, adding that tariffs threatened by US President-elect Donald Trump signalled further trouble ahead.
free online slots Article continues after this advertisement“Manufacturing capacity utilization is at lows comparable only to those seen during the financial crisis and the initial lockdowns”, he said.
“This paints a rather unflattering picture of a nation known as an industrial powerhouse.”
German industry has been struggling with high energy prices, fierce Chinese competition and weak global demand.
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SIGN ME UP Preliminary estimates for German GDP growth in 2024 released on January 15 could show that output has declined for two years in a rowslot paraiso, after the economy shrunk 0.3 percent in 2023.
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