German industrial production expands 0.9% year-on-year

FXStreet (Mumbai) - The data reported by Destatis, the German statistics office, showed the industrial production in January 2015, rose 0.9%, beating the estimate of a 0.2% contraction. The December’s figure was revised upwards to 0.5%.

The gauge measures the volume change in output of factories, mines and utilities in Germany. On a month-month-month basis, the output rose 0.6% from the previous month on a price, seasonally and working day adjusted basis, beating the estimate of a 0.5% growth. The previous month’s print was revised higher to 1.0%, which means the industrial production growth actually slowed down in January.