Germany: Industrial production stable in May
July 7, 2015
In May, industrial production was flat over the previous month in seasonally-adjusted terms (April: +0.6% month-on-month). In addition, the reading fell slightly short of market expectations of a 0.1% increase. May’s print mainly reflected a deterioration in electricity and energy supply and slower growth in manufacturing. While construction and mining and quarrying contracted again in May, the drop was softer than in April.
Compared to the same month last year, industrial production rose 2.1% in May, which followed April’s 1.1% increase. The overall trend improved marginally as annual average growth in industrial production inched up from April’s 0.5% to 0.6% in May.