Germany: Industrial output contracts in June
August 8, 2017
Industrial production contracted 1.1% in June, contrasting May’s 1.2% expansion. The reading vastly undershot market expectations of a 0.2% expansion. June’s print was driven by contractions in the manufacturing, construction and mining sectors.
Compared to the same month of the previous year, growth in industrial production was 2.4% in June, down from the 4.8% expansion registered in May. In June, annual average growth in industrial production was 1.7%, up from May’s 1.6%.
Author: Christopher Mc Innes, Economist