German January industrial production beats forecasts

(Sharecast News) - German industrial production rose 2% in January compared with the previous month, the federal statistics office said on Monday, beating estimates of a 1.5% increase. It cited sharp rises in the automotive, food and machine maintenance and assembly industries as the main drivers of the rise. A decrease in production in the manufacture of fabricated metal products had a negative effect.

In a separate release, the statistics office said January exports were down 2.5% and imports were up 1.2% on a calendar and seasonally adjusted basis compared with December 2024.

Based on provisional data exports decreased by 0.1% and imports rose by 8.7% compared with January 2024.

Reporting by Frank Prenesti for Sharecast.com