Berlin – German industrial production, on Monday, posted a solid gain in January as Berlin prepared to try to contain the economic fallout from the spread of the deadly coronavirus with a new package of measures.
However, while January output rose by a more than forecast three per cent, German trade turned in a more slow performance at the beginning of the year, with exports stagnating.
Analysts had expected monthly industrial production to expand by 1.7 per cent at the start of the year, with exports growing by 0.9 per cent.
However, January imports rose by 0.5 per cent, in line with analysts’ forecasts.
The release of the data followed an overnight meeting of members of Chancellor Angela Merkel’s ruling coalition, which agreed to a series of measures in response to the coronavirus.
The measures include steps to help businesses place employees on short-time and financial help for companies in the front-line of the coronavirus fight.
(dpa/NAN)
