Germany industrial production rose 3.2% mom in October, above expectation of 1.8% mom. Production was down -3.0% yoy on the same month a year ago. Compared with February, before coronavirus restrictions, production was down -4.9%.
However, separately released, Ifo said the industrial production expectations for the coming months have deteriorated, falling to 5.5 pts in November. “The consumer-oriented industries in particular are catching their breath, while the pharma industry is seeing a surge,” says ifo expert Klaus Wohlrabe.
