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Financial News: Germany Industrial Production Recovers In July

Germany Industrial Production Recovers In July

09/07/2021 - 02:28:00 (RTTNews)

(RTTNews) - Germany's industrial production recovered in July, data from Destatis showed on Tuesday.

Industrial production grew 1 percent month-on-month in July, offsetting a revised 1 percent fall in June. Economists had forecast a monthly growth of 0.9 percent.

Compared with February 2020, the month before restrictions were imposed due to the corona pandemic, production in this July was 5.5 percent lower in seasonally and calendar adjusted terms.

Industrial production excluding energy and construction was up 1.3 percent in July. Energy production dropped 3.2 percent, while construction output increased 1.1 percent.

On a yearly basis, industrial output advanced 5.7 percent in July, faster than the 5.4 percent increase posted in June.

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