Germany: Industrial activity drops most in almost a year in June
Latest reading: Industrial output dropped 1.9% in calendar- and seasonally adjusted month-on-month terms June (May: -0.1% mom s.a.), marking the worst reading since July 2024 and undershooting market expectations. Looking at the details of the release, manufacturing production fell at a sharper pace in June. Moreover, the contraction in mining and quarrying output worsened, and energy supply growth lost momentum.
On an annual basis, industrial production decreased 3.6% in June, which was significantly below May’s 0.2% fall. Meanwhile, annual average variation of industrial production was stable at May’s 2.9% in June.