German industrial output rises 0.7% in September

German industrial production rose 0.7% in September from the previous month, according to the Federal Statistical Office, a move that surprised analysts. Economists polled by Reuters had expected no change. The gain was linked to a seasonal lift in the car industry. The overall picture was softened by a revision to August: the month-on-month increase was cut to 1% from an earlier 2% reading. On a year-on-year basis, industrial output was up 0.4% in September versus the same month a year earlier. Commerzbank’s Joerg Kraemer said production continues to move sideways at a low level.