Germany: Industrial production recovers in July
September 7, 2015
In July, industrial production rose 0.7% over the previous month in seasonally-adjusted terms, marking the largest gain in seven months. The reading contrasted June’s 0.9% decrease but fell short of market expectations of a 1.0% expansion. July’s result mainly reflected turnarounds in manufacturing and construction. In addition, electricity and energy supply picked up pace. Conversely, the contraction in mining and quarrying deepened in July.
Compared to the same month last year, industrial production grew 0.5% in July, which came in below June’s 0.9% increase. The overall trend worsened as annual average growth in industrial production edged down from June’s 0.7% to 0.5% in July.