Germany: Industrial output accelerates in May
July 7, 2017
Industrial production grew 1.2% in May, up from April’s 0.7% expansion. The reading vastly overshot market expectations of a weaker 0.3% expansion. May’s print was driven by an acceleration in the manufacturing and mining sectors accelerating, which together offset a contraction in the construction sector.
Compared to the same month of the previous year, growth in industrial production was 5.0% in May, up from the 2.8% expansion registered in April. In May, annual average growth in industrial production was 1.6%, up from April’s 1.1%.
Author: Christopher Mc Innes, Economist