FXstreet.com Barcelona) - German industrial production has increased well above expectations in January growing 1.8% on the month, and 6.9% year-on-year, according to the latest figures released by the Federal Ministry of Economics.

These figures follow a 1.5% monthly growth and a 4.9% yearly increase posted in December, revised up from the 0.8% monthly increase and the 4.1% yearly rise previously estimated.

January's figures have beaten largely the experts' forecasts, who had advanced a 0.4% monthly increase and a 4.7% rise on the year.