German industrial output drops in June
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.