German Industrial Output Jumps 2% in August, Topping Forecasts on Construction Strength

German industrial production rose 2% in August from the previous month, the federal statistics office said Wednesday, exceeding the 0.5% rise forecast by analysts polled by Reuters. The gain was driven by a 9.3% surge in construction output, particularly in specialized construction and finishing trades, along with higher machinery and equipment manufacturing. The less volatile three-month comparison showed production from June to August was 0.4% higher than in the prior three-month period. Output rose 2.3% year-on-year when adjusted for calendar effects. July's provisional figure was revised to a 1.2% decline from an earlier 1.1% drop.