FXstrreet.com (Barcelona) - German industrial sector seems to continue growing at a robust and steady pace, industrial output grew sharply larger than expected in August, according to the latest report by the German statistics office.
According to the German Economics Minister, industrial production has increased 1.7% in August from July, on a seasonally adjusted basis, a reading notoriously higher than the 0.5% monthly growth expected by the market.
On the year, industrial production has increased 5.1%, again larger than the 3.9% increment expected. July's increase has been revised to 0.2% from the 0.1% growth previously estimated.
The Economics Minister, after pointing out German industrial sector's good shape, has advanced that the growing tendency will continue, according to the recent increases on manufacturing orders