Industrial output in Germany fell a seasonally adjusted 0.7pc in February compared to January, according to preliminary data from the Economy and Labour Ministry. Although the figure came in slightly better than expected, it indicates persisting weakness across all industries in the eurozone's largest economy. In January output rose 3.2pc compared to December. February's fall was due mainly to a seasonally adjusted 4.4pc fall in construction output compared to January, the ministry said, due to particularly cold weather. Manufacturing output fell 0.3pc, it said.
Year-on-year and adjusted only for the number of working days, industrial output rose 0.4pc in February, after rising 1.5pc in January. On a two-monthly basis, industrial output rose a seasonally adjusted 1.0pc in January-February compared to November-December, and rose 0.9pc compared to January-February 2002 when adjusted only for the number of working days. //www.fxcentre.com