1. German industrial output rises more than expected in April

German industrial output rises more than expected in April

German industrial production increased more than forecast in April, data showed on Thursday, reinvigorating hopes that this sector will help prolong an upturn in Europe's biggest economy after orders data disappointed.

By: | Published: June 8, 2017 12:27 PM
The upturn was driven by a surge in energy production and factories churning out more intermediate goods.

German industrial production increased more than forecast in April, data showed on Thursday, reinvigorating hopes that this sector will help prolong an upturn in Europe’s biggest economy after orders data disappointed. Industrial output rose by 0.8 percent on the month, data from the Economy Ministry showed. That beat the consensus forecast in a Reuters poll for a gain of 0.5 percent.

The upturn was driven by a surge in energy production and factories churning out more intermediate goods. The March reading was revised up to a fall of 0.1 percent from a previously reported drop of 0.4 percent.

Data published on Wednesday had shown industrial orders dropped far more than expected in April as factories lacked new contracts for big-ticket items.

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