Frankfurt (AFP)-l' Germany recover the suspended economy to breath in November when industrial production and retail delined sales, but remained on track for growth more this year, officials and analysts said Friday.
German trade surplus contracted as imports reached a record level, but the largest economy in Europe and exporter of number two in the world was still some reservations, the Ministry of economy, said.
"Given a strong level of orders, the trend (higher industrial production) should continue in the coming months", and the results for the fourth quarter of 2010 should be positive, a statement said.
Thursday, official data showed industrial orders were five times higher than expected in November due to sustained global demand for German goods such as chemicals, machine tools and vehicles.
Apparently fixed that an expansion of the business framework document 2010 was nevertheless composed in November, with industrial production down by 0.7% on month and retail sales losing 1.9%.
Analysts interviewed by Dow Jones Newswires had expected a decline of 0.2 per cent and an increase of 0.8%, respectively.
German retail sales number is very volatile and analyst Frank Engels to Barclays Capital said those newer 'must be taken with a grain of salt.
Wage developments and reports from retailers, consumer confidence readings "suggests that private real consumption growth should have accelerated in the second half of 2010, including Christmas surprisingly robust despite the winter weather, sales", he added.
Imports jumped at the same time from 33.3% in November of the same month a year earlier, partly due to the rising prices of oil and other products to? 75.1 billion (97.5 billion), the national Board of the reported statistics.
It was the highest "since external trade statistics were marketed for the Federal Republic of Germany in 1950,"Office Destatis added.""
It refers to the old Germany in the West, who was found with the former Germany of the East in October 1990.
Destatis said German exports amounted to? 88 billion, its highest level since October 2008, just after the collapse of the Lehman Brothers U.S. Investment Bank.
Chief Economist Berenberg Bank Holger Schmieding reiterated his view that "economic revival of the Germany is driven by domestic demand much more than by exports," and added: "today data confirm once more."
National trade surplus fell to? 12.9 billion from? 16 billion in November 2009.
"Despite the solid and healthy foundations, German industry is likely to fall into a kind of hibernation of snow in the coming months," ING Economist Carsten Stories, commented.
"However, similar to last year, the strong winter be only postpone, not stop industrial recovery."
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