Mubasher: German industrial output posted a second gain in March, stoking hopes that the growth of Europe’s biggest economy may pick steam.

Total industrial production, including output from manufacturers, energy, and construction sectors, rose by 0.5% month-on-month last March, the Federal Statistical Office (Destatis) said on Wednesday.

A provisionally estimated gain of 0.7% in February was downwardly revised to an increase of 0.4%.

The March upturn was led by a 1.1% increase in consumer goods, while production in the construction sector climbed by 1%.

Meanwhile, capital goods recorded no change during March.

On an annual basis, however, industrial output in Germany fell by 0.9% during the month.

An upturn in the German economy could boost the Eurozone growth following months of lacklustre activity in German factories, which came as a result of a slowdown global demand as well as disruption to the auto production.

In the first quarter of 2019, the German auto industry posted a 0.4% output increase, the Economy Ministry said.

By 8:53 am GMT, the EUR/USD pair went up by 0.11% to $1.1203.