Ger­man fac­tory out­put plunges in Dec

The Pak Banker - - BUSINESS -

FRANK­FURT: Ger­man in­dus­trial out­put plunged un­ex­pect­edly in De­cem­ber and ex­ports and im­ports also fell, data showed on Tues­day, in a sign that Europe's largest econ­omy ended 2015 on a weak foot­ing. In­dus­trial out­put fell by 1.2 per­cent on the month, the strong­est de­cline since Au­gust 2014, data from the Econ­omy Min­istry showed. The fig­ure fell short of the con­sen­sus fore­cast in a Reuters poll for a 0.4 per­cent in­crease. "In­dus­trial pro­duc­tion went through a dry spell at the end of 2015," the econ­omy min­istry said in a state­ment, adding, how­ever, that a rise in in­dus­trial or­ders in the fourth quar­ter pointed to an ex­pan­sion in pro­duc­tion at the start of this year. Sep­a­rate data from the Fed­eral Sta­tis­tics Of­fice showed that sea­son­ally-ad­justed ex­ports fell by 1.6 per­cent in De­cem­ber while im­ports were also down by 1.6 per­cent, nar­row­ing the trade sur­plus to 18.8 bil­lion euros. Econ­o­mists polled by Reuters had ex­pected ex­ports to rise by 0.5 per­cent and im­ports to go down by 0.5 per­cent. For 2015, Ger­many reg­is­tered a new record trade sur­plus of 247.8 bil­lion euros, up from 213.6 bil­lion euros in 2014, the data showed.

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