Germany: Manufacturing growth was surprisingly robust - TDS

Research Team at TDS, notes that the German manufacturing growth was surprisingly robust in January, rising 3.3% m/m, well above the consensus forecast for a 0.5% monthly gain and TD’s expectation for a slight decline.

Key Quotes

“December’s data was also revised higher, adding to the solid nature of the report. Notable increases in consumer and capital goods production accounted for much of the improvement while construction was particularly strong.

Separately, Q4 GDP growth for the Eurozone was confirmed at +0.3% q/q as higher government spending and investment offset some softness in consumption.”