Germany's industrial output rose more than expected in January. The German Federal Statistical Office reported that the country's industrial output increased by 1 percent month-on-month in January. Analysts had predicted a rise of 0.6 percent in a Reuters survey. In December, industrial output in the largest European economy contracted by 2 percent. The German economy shrank in 2023 due to ongoing inflation, rising energy prices, and weak external demand; however, it avoided recession at the end of the year. The Federal Statistical Office stated that the gross domestic product contracted by 0.3 percent throughout 2023.
Germany: Industrial Output Up in January
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