By Nina Adam
FRANKFURT--German industrial production rose in November, albeit by less than expected, but exports surged from the month before, indicating a pickup in overall economic activity in the fourth quarter.
The Destatis statistics body said Monday that industrial output increased 0.4% in November 2016 from the month before, adjusted for seasonal swings and calendar effects. Economists polled by The Wall Street Journal had forecast a rise of 0.7%. But production data for October were revised to a rise of 0.5% compared with a 0.3% increase previously reported.
Commenting on the results, Germany's economics ministry said that robust manufacturing orders and sentiment data point to "solid production growth"over the winter months.
Compared with November 2015, industrial output was up 2.2%, taking account of calendar effects.
In a separate news release, Destatis said that German exports surged 3.9% in November from the month before, while imports increased 3.5%.
But total exports in the first eleven months of the year were only 0.8% higher than in the same period in 2015, a sign that global economic uncertainties -- such as elections in the U.S. and the U.K.'s vote to leave the European Union -- have been weighing on Europe's largest export nation.
Germany's adjusted trade surplus, meanwhile, rose to 21.7 billion euros ($22.9 billion) in November from a revised EUR20.7 billion in October, beating economists' forecasts of EU20.0 billion.
Germany's current account balance--a broad measure of an economy's international financial position--showed a surplus of EUR24.6 billion in November, in non-adjusted terms. The outcome was higher thanexpected, but below the surplus of EUR24.9 billion recorded in October 2015.
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(END) Dow Jones Newswires
January 09, 2017 02:52 ET (07:52 GMT)
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