FRANKFURT
German industrial production dropped in May following three
consecutive increases, official data showed Monday, suggesting that recovery in
Europe's largest economy remains fragile amid an uncertain foreign trade
outlook
Industrial production in May fell 1.0% on the month earlier, sharper than the
0.5% fall economists had forecast
The decline was led by a 2.6% drop in
construction output which, according to the economics ministry, and contrasts
with a sharp increase in April
"The trend in industrial production continues to point up," the ministry said
in a statement Manufacturing production in May fell 0.7% on the month, after
increasing 1.7% in April
The weakness in industrial production follows an earlier report by the
ministry showing that German manufacturing orders in May declined 1.3% on the
month as a sharp drop in domestic orders quashed expectations of a recovery in
domestic investment
"The recovery in German industry should continue at a slightly muted pace,"
the ministry said
Industrial output in May fell 1% compared with the year-earlier month in
seasonally and calendar adjusted terms
Welcome
The mathematician of the Complutense University of Madrid, José-Vidal Ruiz Varela, argues that Europe must raise its borrowing limit, leaving its deflationary policy.
Cortesía de Investing.com
Agenda Macro
Calendario económico en tiempo real proporcionado por Investing.com España.
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