Ger­man in­dus­trial out­put drops in June

Muscat Daily - - BUSINESS -

Ger­man in­dus­trial pro­duc­tion de­clined in June, dis­ap­point­ing an­a­lysts’ ex­pec­ta­tions, of­fi­cial data showed.

Pro­duc­tion fell by 1.1 per cent month-on-month in June, af­ter a 1.2 per cent rise in May, ac­cord­ing to fig­ures ad­justed for price, sea­sonal and cal­en­dar ef­fects from fed­eral sta­tis­tics au­thor­ity Des­tatis. The June fig­ure fell short of the 0.25 per cent growth pre­dicted by an­a­lysts sur­veyed by Fact­set. De­spite the fall in June, ‘the busi­ness sit­u­a­tion in in­dus­try con­tin­ued to re­vive in the sec­ond quar­ter’, the Econ­omy Min­istry in Ber­lin said, not­ing that pro­duc­tion only sank in June af­ter five con­sec­u­tive months of in­creases.

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