- Andreas Rees, chief Germany economist at UniCredit
Germany's industrial production grew at a seasonally adjusted rate of 1.3% in July, after falling 0.4% in the preceding month, the Economy Ministry in Berlin said on Friday. Analysts had predicted German industrial production to rise 0.2% last month.
"German companies were holding up well amidst euro-zone turmoil," said Andreas Rees, chief Germany economist at UniCredit in Munich.
"While we do not expect drastic decreases in overall industrial activity, it is only a question of time before hard data will reflect what we already know from business sentiment figures - a loss in momentum in coming months."
Also Friday, Destatis said Germany's trade balance rose more than expected in August. Nation's trade balance grew to 16.1B, from 16.3B in the preceding month. Experts had expected Germany's trade balance to rise 15.5B last month.
The Stoxx Europe 600 Index rose 0.23 per cent to 272.30. Germany's DAX Index advanced 0.66 per cent to 7,214.50 and France's CAC 40 Index edged higher 0.26 per cent to 3,519.05.
© Dukascopy Bank SA