German industrial output rises 2% in August, beating forecasts

The rebound matters less for its headline beat than for what it says about the durability of Germany's industrial base, which has been the weakest link in Europe's largest economy. A single monthly swing after a revised decline is thin evidence of a turn, and the composition behind the gain is what separates a genuine restocking cycle from a one-off distortion. The open question is whether this feeds through to broader euro-area activity and how it colours the ECB's read on growth versus inflation.