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7/7, 8:01 AM (Source: TeleTrader)
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German industrial production slips 0.3% in May

Germany's industrial production lost 0.3% in May compared to the month before, coming in below the analysts' forecasts, the country's Federal Statistical Office Destatis said in a report released on Wednesday. Compared to May 2020, industrial output in Germany improved by 17.3%.

Production in industry excluding energy and construction lost 0.5% on a monthly basis, while the production of consumer goods jumped 4.1%. The production of intermediate goods advanced by 0.6%, while the capital goods output decreased by 3.4%

Energy production in Germany was down by 2.1% in May, compared to the month prior, while the production in construction moved up by 1.3% month-on-month.

Breaking the News / BU