May industrial production up in Germany, France
The data from Germany’s statistics office Destatis showed that the country’s industrial production was up by 1.2% on a monthly basis in May following a revised increase of 0.7% in April and beat the estimates of an increase of 0.2%. This was the biggest increase recorded in the first five months of this year and mainly driven by the increases in the production of energy, capital goods and consumer goods by 2.9%, 2.6% and 1.4%, respectively.
The data showed that the country’s output was also up by 5% on a yearly basis in May.
Meanwhile, according to the data from Insee, the official statistics office of France, the country’s industrial output recorded an increase of 1.9% in May following a decrease of 0.6% in the previous month. This increase also exceeded the economists’ expectations which were calling for a slight rise of 0.6%.
This rise stemmed from the increases in the production of machinery and equipment goods (3%), transport equipment (2.7%) and food products and beverages (1.2%).
Compared with the same month of last year, the industrial production in the country also increased by 2.6% which was mainly due to higher production in machinery and equipment goods, transport equipment and coke and refined petroleum products by 4.7%, 3.3% and 1.7%, respectively.
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