German Industrial Output Slips in June
Germany’s seasonally-adjusted industrial output unpredictably slipped in the month of June as construction and manufacturing caused a short-term blip in the growth spurt of Europe’s leading economy.
Adjusted for seasonal inflation and swings, industrial output slipped 1.1 per cent in June. In May, it had jumped 1.2 per cent.
In an emailed statement, the Economy Ministry said, “Factory orders as well as indicators for business climate point to the upward trend in industrial production continuing.”
The unexpected decline in Germany’s industrial production was driven by a 1.4 per cent decline in manufacturing output and 1 per cent decline in construction.
It was the first fall in industrial output in six months in the usually volatile measure that compares predictions for a 0.2 per cent gain. However, output was up 2.4 per cent from a year earlier.
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