German industrial production rose more than forecast in November

According to provisional data of the Federal Statistical Office (Destatis), in November 2019, production in industry was up by 1.1% on the previous month on a price, seasonally and calendar adjusted basis. Economists had expected a 0.7% increase. In October 2019, the corrected figure shows a decrease of 1.0% (primary -1.7%) from September 2019.

In November 2019, production in industry excluding energy and construction was up by 1.0%. Within industry, the production of capital goods increased by 2.4% and the production of consumer goods by 0.5%. The production of intermediate goods showed a decrease by 0.5%. Outside industry, energy production was down by 0.8% in November 2019 and the production in construction increased by 2.6%.

A separate report from Destatis showed that Germany exported goods to the value of 112.9 billion euros and imported goods to the value of 94.6 billion euros in November 2019. Based on provisional data, the Federal Statistical Office (Destatis) also reports that German exports decreased by 2.9% and imports by 1.6% in November 2019 on the same month a year earlier. Compared with October 2019, exports were down 2.3% and imports 0.5% after calendar and seasonal adjustment. The foreign trade balance showed a surplus of 18.3 billion euros in November 2019. In November 2018, the surplus of the foreign trade balance amounted to 20.2 billion euros. The calendar and seasonally adjusted surplus of November 2019 was 18.3 billion euros as well.