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Germany’s industrial production picks up in July

by ChemOrbis Editorial Team -
  • 07/09/2015 (11:06)
According to data from Germany’s Economy Ministry, the country’s industrial production advanced 0.7% after adjusting for seasonal swings and inflation in July following a revised decrease of 0.9% in the previous month. However, July’s reading fell below economists’ initial estimates, which called for a gain of 1.1% in July in a survey by Bloomberg. On a yearly basis, meanwhile, Germany’s factory output rose 0.5% in July.

Stronger domestic demand and an expansion in the eurozone economy were cited as the main reasons behind higher industrial output.

The data also showed that construction output rose 3.2% from a month earlier while production of investment goods increased 2.8% on the month in July. Energy output and manufacturing climbed 1.9% and 0.3%, respectively; while consumer goods production decreased 3.7% and intermediate goods output edged lower by 0.8% in July compared with previous month.
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