"The debt crisis damps demand for German products in Europe but Russia, China, India, Brazil and South Africa should generally be able to compensate declining sales"
- Gerd Hassel, an economist at BHF Bank AG
German industrial production unexpectedly soared in March, adding to signs the euro zone's largest economy is weathering debt crisis. Production jumped 2.8 per cent from February, when it declined 0.2 per cent, said the Economy Ministry on Tuesday.
"The debt crisis damps demand for German products in Europe but Russia, China, India, Brazil and South Africa should generally be able to compensate declining sales," said Gerd Hassel, an economist at BHF Bank AG in Frankfurt.
"Germany's recovery is also based on strong domestic demand as high employment, rising wages and increasing investment fuel consumption and industrial output."
"While almost all other euro zone countries are currently caught in the downward spiral of austerity measures, deleveraging and economic reforms, the German economy is still enjoying the results of earlier structural reforms," said Carsten Brzeski at ING Bank.
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