German industrial production rises 0.7 per cent in July, underperforming expectations

 
James Nickerson
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Construction led the gains for July (Source: Getty)

Germany’s industrial production rose 0.7 per cent month-on-month in July, a slower rate than expected, according to data from Deutsche Bundesbank.

Economists had expected a rise of 1.1 per cent, according to economists surveyed by Bloomberg.

Read more: Non-EU markets boost German export surplus as euro weakens

However, in an optimistic signal, industrial production was positive after having decreased 0.9 per cent in June. June’s figures were also revised up from an initial recording of a 1.4 per cent decline.

Read more: Euro industrial production in slow recovery

In July construction gained 3.2 per cent on June, while energy output rose 1.9 per cent and manufacturing climbed 0.3 per cent. Industrial production also rose 0.5 per cent from last year.

Last week German retail sales beat expectations, jumping 1.4 per cent from June to July.

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