Economic Briefing/Economic Insights

Germany – Production data better than orders

Unlike order intake, industrial production rose by 1.2% in May compared with the previous month. This means that output in April and May was slightly above the average for the first quarter, fueling hopes that manufacturing has turned the corner. Although no significant increase in real GDP is expected for the second quarter, it should continue to rise in the following quarters, partly because fiscal policy will provide a significant boost next year at the latest.