German industrial production posts another rise
BERLIN (AP) — Government data show that German industrial production grew for the fourth consecutive month in February, underlining expectations of a pickup in Europe’s biggest economy.
The Economy Ministry said Monday that production rose 0.4 percent compared with the previous month and it expects figures for the full first quarter to be “appreciably above” Germany’s performance in last year’s fourth quarter. In year-on-year terms, production was up 4.8 percent in February.
Germany’s order pipeline also is in good shape. Data released last week showed that industrial orders were up 0.6 percent on the month in February.
The government’s panel of independent economic advisers last month raised its 2014 growth forecast for Germany to 1.9 percent from 1.6 percent. Last year, the economy grew by only 0.4 percent.