Germany reports decline in industrial output
Germany's industrial output fell 2.2% month on month in February 2005, according to preliminary data from Germany's Labor and Economy Ministry. Economists had been expecting a monthly decline of 1.3%. A 13.8% decline in construction output and a 2% drop in manufacturing output contributed to overall output's decline. Industrial output rose 1.9% during January-February 2005 period compared to the November-December 2004 period. Construction output rose 2.9% in the first two months of 2005; however, energy and manufacturing output dropped 1.7% and 2.6% respectively.