German Industrial Output Rose 1.6% in January, Beats Expectations
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As Euro officials eagerly await support for the Greek bailout Thursday, traders are also weighing overall better output data out of Germany earlier.
According to the Economy Ministry in Berlin, Germany's industrial production in January rose 1.6 percent from a dip of 2.6 percent in December. German economists were expecting just a 1.1 percent rise.
Construction improved 4.3 percent while production of investment goods rose 3.5 percent and energy output rose 1.7 percent.
Numbers come as Germany appears to be putting up a strong resistance against recession, even as other EU members are facing potential debt crises and exports from the region also slowed in the most recent quarter. On Wednesday, Germany reported a 2.7 percent drop in factory orders for January; export demand slipped 5.5 percent.
U.S. markets are up modestly across the board, still working to shake off a large drop earlier in the week. The DAX is currently 1.7 percent higher heading into the close in Europe.
According to the Economy Ministry in Berlin, Germany's industrial production in January rose 1.6 percent from a dip of 2.6 percent in December. German economists were expecting just a 1.1 percent rise.
Construction improved 4.3 percent while production of investment goods rose 3.5 percent and energy output rose 1.7 percent.
Numbers come as Germany appears to be putting up a strong resistance against recession, even as other EU members are facing potential debt crises and exports from the region also slowed in the most recent quarter. On Wednesday, Germany reported a 2.7 percent drop in factory orders for January; export demand slipped 5.5 percent.
U.S. markets are up modestly across the board, still working to shake off a large drop earlier in the week. The DAX is currently 1.7 percent higher heading into the close in Europe.
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