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German industry still powering ahead

German industrial output - Increases in all areas
German industrial output - Increases in all areas

Official figures show that German industrial output rose by a seasonally adjusted 1.6% in February from January. The rise was better than the 0.5% increase forecast by most economists.

Compared with a year earlier, production was up 14.8% when adjusted for the difference in the number of working days, with increased activity noticeable across all sectors, the economy ministry said.

On a less volatile two-monthly basis, industrial output rose a seasonally adjusted 2.5% in January and February compared with November and December, and was up 13.8% compared with January and February 2010.

The figures are a further sign that the German economy is powering ahead after 2009's recession. The country's leading economic institutes forecast economic growth this year of 2.8%.