German industrial output in May flat
Print Edition
GERMAN industrial output stagnated in May, data from the Economy Ministry showed yesterday, with increases in consumer and capital goods helping to offset weakness in construction.
Production in Europe’s biggest economy was flat month on month, the ministry said. This fell just short of a consensus forecast for a 0.1 percent rise.
The April figure was revised down to a rise of 0.6 percent from a previously reported gain of 0.9 percent.
“Industrial output continued its upward trend. The industrial sector seems to be strengthening,” the ministry said in a statement.
The output of consumer goods rose by 1.3 percent on the month, and production of capital goods gained by 0.4 percent. Construction fell by 0.5 percent.
German economic growth slowed to 0.3 percent in the first quarter of this year, but economists expect it to grow faster in April to June.
Despite a dip in industrial orders in May, the ministry said on Monday that economic activity in Germany’s manufacturing sector is picking up slightly.
Economists blamed temporary weakness in construction for the lack of pace in Germany’s industrial sector in the second quarter.
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