Germany: October industrial production +1.8% month-on-month, +0.8% year-on-year

German industrial production continued to accelerate in October, exceeding expectations in anticipation of large-scale government investment. On a monthly basis, output jumped 1.8 per cent, Germany's statistics agency Destatis said, up from the 1.3 per cent increase recorded in September. Economists surveyed by the Wall Street Journal had expected an increase of 0.3 per cent. On a year-on-year basis, the increase was 0.8 per cent.

The monthly increase follows a 1.5 per cent rise in manufacturing orders in October, demonstrating a further stabilisation of the German industrial sector. The German government has pledged up to EUR 1 trillion in investments, including for defence and infrastructure.