Germany's industrial sector avoided a contraction in December despite coronavirus lockdowns at home and abroad as strong demand from China helped export-oriented manufacturers in Europe's largest economy weather the Covid-19 pandemic. The upwardly revised November figure helped overall industrial output in the fourth quarter to increase by 6.1% on the quarter. "The German manufacturing sector has performed relatively well in recent months and that's mainly thanks to the well-running Chinese economy," VP Bank economist Thomas Gitzel said. The economy ministry said the outlook for the industrial sector remained subdued given further development of the pandemic and supply bottlenecks in the semiconductor industry. The Ifo institute expects the German economy to stagnate in the first quarter while the Commerzbank predicts a decline.

Source: Hindustan Times February 08, 2021 09:19 UTC