Germany: Industrial output growth hits all-time high in June
Industrial output increased 8.9% in month-on-month terms in June, which was above May’s 7.4% increase. The figure marked the strongest increase on record.
June’s upturn was largely driven by strong growth in the production of capital goods, while output of intermediate goods and consumer goods also increased notably. Meanwhile, the construction sector output gained steam, while energy output rose.
On an annual basis, factory output dove 11.7% in June, moderating from May’s 19.5% fall. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 7.8%, down from May’s minus 7.2%.