Germany: Industrial production rebounds in June
August 8, 2016
In June, industrial production expanded 0.8% over the previous month in seasonally-adjusted terms. June’s result marked a turnaround over May’s 0.9% decrease and represented the highest reading in five months. Moreover, June’s result slightly overshot market expectations of 0.7% growth. The rebound was driven entirely by improving conditions in the manufacturing sector. All other sectors deteriorated and fell into contraction.
Compared to the same month last year, industrial production increased 0.5% in June, which contrasted May’s 0.4% decline. The overall trend moderated as annual average growth in industrial production inched down from 0.7% in May to 0.6% in June.