ZURICH (MaceNews) – Germany’s industrial production unexpectedly fell in May compared to April, falling 0.3 percent, the Federal Statistics Office (Destatis) in Wiesbaden reported.
Expectations were for a 0.5 percent increase for the month, according to the median of an Econoday survey of economists’ forecasts. The April result was revised higher to a decline of 0.3% from the originally reported drop of 1.0 percent.
Production by sector in May:
• Industry ex-energy and construction -0.5% M/m
• Consumer goods +4.1% M/m
• Intermediate goods +0.6% M/m
• Capital Goods -3.4% M/m
• Energy -2.1% M/m
• Construction +1.3% M/m
Compared to May of last year, production was 17.3 percent higher, Destatis said.
Monthly changes are price, seasonally and calendar adjusted. Annual changes are adjusted for price and calendar effects.
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