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Financial News: Amended: German Industrial Output Growth At 3-Month High

Amended: German Industrial Output Growth At 3-Month High

07/07/2017 - 08:06:00 (RTTNews)

(RTTNews) - Corrected headline and first three paragraphs of article

Germany's industrial production grew at the fastest pace in three months in May, Destatis reported Friday.

Industrial production grew 1.2 percent month-on-month in May, faster than the 0.7 percent increase seen in April and exceeded economists' forecast of 0.2 percent.

This was the largest growth since February, when output climbed 1.5 percent.

Excluding energy and construction, industrial output grew 1.3 percent. Energy output advanced 2.9 percent in May, while that in construction dropped 1.0 percent.

Among other sectors, capital goods output rose 2.6 percent and the production of consumer goods by 1.4 percent. Meanwhile, the production of intermediate goods showed a decrease of 0.2 percent.

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