Germany's industrial sector avoided a contraction in December despite coronavirus lockdowns at home and abroad as strong demand from China helped export-oriented manufacturers in Europe's largest economy weather the COVID-19 pandemic.
Germany's industrial sector avoided a contraction in December despite coronavirus lockdowns at home and abroad as strong demand from China helped export-oriented manufacturers in Europe's largest economy weather the Covid-19 pandemic.
Demand from China helps manufacturers weather pandemic Temporary cut in sales tax, Brexit jitters also at play (Adds analyst on temporary VAT cut effect, Brexit)
By Michael Nienaber
BERLIN, Feb 8 (Reuters) - Germany s industrial sector avoided a contraction in December despite coronavirus lockdowns at home and abroad as strong demand from China helped export-oriented manufacturers in Europe s largest economy weather the COVID-19 pandemic.
Industrial output was flat on the month after an upwardly revised increase of 1.5% in the previous month, figures released by the Federal Statistics Office showed. A Reuters poll had forecast an increase of 0.3%.
This was the first stagnation following seven consecutive months of expansions.