German Industrial Output Rises More Than Expected in October

The federal statistics agency Destatis released preliminary data, on Monday, showing German consumer prices had hit a 29-year high in November, as soaring energy costs and supply chain bottlenecks weigh on Europe’s top economy.

Data showed that German industrial output rose more than expected in October, even as supply bottlenecks in raw materials and intermediate goods continued to undermine production in Europe’s largest economy.

The Federal Statistics Office said industrial output rose 2.8 percent on the month, after declining 0.5 percent in September, in revised reading.

A Reuters poll had indicated an increase of 0.8 percent in October.