German industrial production is lagging behind the country's recovery

Angela Merkel glassesREUTERS/Hannibal HanschkeGerman Chancellor Angela Merkel wears special glasses as she visits a metal workshop in Berlin September 5, 2008.

German industrial production figures are just out for February — output rose by 0.2% from January alone, but it’s now
down 0.3% on the same month last year.
Germany’s consumer figures at the moment are coming in strong — retail sales recently rose at the fastest pace in a a decade — but there’s no sign of a similar boom in the industry of Europe’s largest economy.

We also just got figures on Germany’s balance of trade in February, with the surplus a little smaller than analysts expected.

Germany exported €19.7 billion more than it imported during February, lower than the €20 billion forecast.

Imports rose by 1.8% over the year, a little faster than exports at 1.5%, which is probably good news for the unbalanced German economy.

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