Germany: Industrial output expands in April
June 8, 2017
Industrial production grew 0.8% in April, contrasting March’s 0.1% contraction. The reading overshot market expectations of a weaker 0.5% expansion. April’s print was driven by the mining and energy sectors swinging back to expansion and by an acceleration in the manufacturing sector, which together offset a marginal decline in the construction sector.
Compared to the same month of the previous year, growth in industrial production was 2.9% in April, up from the 2.2% expansion registered in March. In April, annual average growth in industrial production was 1.2%, up from March’s 1.0%.
Author: Christopher Mc Innes, Economist