German Industrial Output for March Posts a Surprising Jump

German industrial output posted a surprising but good jump in March, registering a 0.5 percent increase. The figure came in better than expected – the expectations were for a 0.5 percent decline.

An increase in production of consumer goods and construction has helped boost this positive figure released by the Statistics Office. However, the German economy ministry expects growth in the industrial sector to remain subdued in the near future as the business climate looks a little down.

Previously, Germany had slashed its growth forecasts for 2019 to 0.5 percent, significantly lower than the 2.2 percent growth in 2017 and 1.4 percent in 2018. Trade tensions around the world and Brexit woes are adding to the uncertainty and the gloom in Germany’s manufacturing sector.