German factory production slips unexpectedly in November
BERLIN (AP) — German industrial production slipped unexpectedly in November but experts say the country is still on track for overall economic growth in the fourth quarter.
The Federal Statistical Office said Friday that production dropped 0.1 percent in November from the previous month in seasonally adjusted terms, while economists had been predicting a 0.3 percent rise.
But the office revised its October figures upward from a 0.2 percent increase over September to a 0.6 percent increase.
UniCredit economist Andreas Rees said following the release of the figures that combined with other hard data, "the picture looks similarly encouraging." He forecast German fourth quarter GDP will post a 0.1 percent rise over the third quarter.
Year-end GDP figures for Germany, Europe's largest economy, are due midmonth.