German industry production up less than expected

AP News
Posted: Jan 09, 2013 6:13 AM

BERLIN (AP) — Industrial production in Germany, Europe's biggest economy, rose less than expected in November and not enough to offset a substantial fall the previous month.

The Economy Ministry said Wednesday that production increased by 0.2 percent compared with October, well short of the 1 percent gain economists had expected. The previous month's decline was revised to 2 percent from the initial reading of 2.6 percent.

Recent data have supported assessments that the economy contracted in last year's final quarter but that the weakness was likely only temporary. Germany remains in far better shape than many other countries in the 17-nation eurozone.

The November figures were pulled up by a 1.4 percent increase in production of investment goods such as factory machinery.