German industrial output rises more than expected in January

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German industrial output rises more than expected in January
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But retail sales fell by 0.3%.

Staff wear protective masks at the Volkswagen assembly line in Wolfsburg, Germany, April 27, 2020. Swen Pfoertner/Pool via REUTERS

BERLIN, March 8 - German industrial production rose significantly more than expected in January, increasing by 3.5% on the previous month, the federal statistical office said on Wednesday.The positive development "was driven in particular by strong growth in the manufacturing of electronic equipment ... and chemicals," the statistics office said.

In contrast, motor vehicle and motor vehicle parts manufacturing, as well as pharmaceutical products manufacturing, had shown a strong negative trend. January's rise should be seen in the context of the marked decline in production in December, down 2.4% following an upward revision, the economy ministry said commenting on the data. In the more meaningful two-month comparison, there was a decline of 0.6%.

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