Germany – Production disappoints despite increase

In June, industrial production increased 1.4% in June on a seasonally adjusted basis, which was roughly in line with expectations. Production in the narrower sense (excluding the construction industry and energy) rose similarly by 1.5%. Production increased across the board; important areas such as the automotive sector and electronic equipment recorded strong growth. Production in the energy-intensive industry also increased by 1.4%.

However, the increase in industrial production was only able to compensate for half of the sharp setback in May, especially as the figure for May was revised downwards further (from -2.5% to -3.1%).

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