German industrial output down in August
09 Oct 2012
German industrial output declined in August due to a weaker construction sector, according to economy ministry data, suggesting that Europe's largest economy was weathering the euro zone crisis relatively well.
Industrial production in Germany was down by 0.5 per cent on the month in August.
Construction sector activity was down by 2.8 per cent and factories rolled out 1.3 per cent fewer intermediate goods, pulling the overall output down. Energy output, which was up 1.5 per cent, was among the positive developments.
"The trend in production continues to be quite stable," the ministry said in a statement.
The July data was slightly revised downwards to a rise of 1.2 per cent from a previously reported gain of 1.3 per cent.
Meanwhile, Germany's trade surplus rose to a five year peak in August following a surprise surge in exports, highlighting the economy's resilience to the euro zone crisis, although economists see a slowdown looming.
