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German March industry output falls, confounding forecasts
May 8, 2014 / 6:16 AM / in 4 years

German March industry output falls, confounding forecasts

BERLIN (Reuters) - German industrial output fell more than forecast in March as construction and manufacturing did worse than in the previous month but the Economy Ministry said on Thursday the outlook for the sector remained bright.

A Porsche Macan is coated at the new plant in the eastern German city of Leipzig February 5, 2014. REUTERS/Tobias Schwarz

Ministry data showed industry production dropped by 0.5 percent in March, at the lowest end of forecasts in a Reuters poll that put the median at +0.2 percent.

The data for February was revised up to a gain of 0.6 percent from a previously reported increase of 0.4 percent.

The ministry said industrial output in the first quarter rose by 1.2 percent compared with a 0.7 percent quarterly increase in the last three months of 2013.

“The basic trend in the industrial sector remains upwards,” the ministry said in a statement.

Reporting by Annika Breidthardt

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