Exports up, industrial output down in Germany amid virus curbs
Germany, the largest economy in Europe, showed mixed economic data on Friday with its exports rising in February and its industrial output suffering from another decline as the pandemic drag goes on.
The Federal Statistics Office’s data noted a 0.9% increase in seasonally adjusted exports on the month of February, following a 1.6% upwardly revised rise in January. Imports moved up 3.6% following a 3.5% decline in the previous month. The growth could be attributed to surging trade with China.
Meanwhile, the country’s industrial output data came as a surprise as it showed a 1.6% plunge, falling for a second month in February. The output decline was broad-based, with investment-goods production taking a particular hit.
Separate data released on Thursday showed that factory orders improved by 1.2% in February. The improvement was brought about by peaking demand within the European bloc.