Industry output in Germany hits six-year high with 2.6% rise in a month

- Finance - Oct 09, 2017

Germany's industry enjoyed its best month in six years in August, according to new figures.

Increased global demand saw output rise by 2.6% from July, its biggest level since July 2011, after forecasters had predicted a 0.9% gain.  

Stocks in DAX .GDAXI touched an all-time high after the data was released by Berlin's Economy Ministry on Monday, with stocks rising generally across Europe.

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"The data is finally catching up with some of the very positive readings we have seen in recent business surveys," said Jennifer McKeown, chief European economist at Capital Economics in London.

"Germany’s economy is on track for a strong third quarter and given the supportive global environment and monetary policy, I don’t see much reason for any significant slowdown in growth in the second half of the year."

Production was up by 4.7% compared to the same period in 2016 - and experts predict the second half of 2017 will see continued growth for the continent's most successful economy.

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