Germany: Industrial production in June tallies largest contraction in 10 months
August 7, 2015
In June, industrial production shrank 1.4% over the previous month in seasonally-adjusted terms. The reading contrasted May’s mild 0.2% increase and market expectations of a 0.3% expansion. June’s result mainly reflected a steeper drop in construction and shrinking manufacturing output. Mining and quarrying also fell in June, albeit at a slower pace than in May. Electricity and energy supply was the only category that expanded in June.
Compared to the same month last year, industrial production rose 0.6% in June, which came in below May’s 2.4% increase. The overall trend improved marginally as annual average growth in industrial production inched up from May’s 0.6% to 0.7% in June.