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Wednesday, May 8, 2013

German industrial production posts surprise gain.

German industrial output rose 1.2% in March, beating economists' expectations of a small decline, and posting an increase for the second straight month. The breakdown shows manufacturing output climbed 1.4% and energy production rose 4%, even as construction activity fell due largely to the coldest March in a quarter century. If construction recovers, it could give a further boost to production. The DAX surged to a new record high Wednesday.

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