German Industrial Production unexpectedly falls by 1.3% MoM in June

Industrial Production in Germany surprised markets to the downside in June, the official data showed on Friday, suggesting that the recovery in the manufacturing sector is dwindling.

Eurozone’s economic powerhouse’s industrial output unexpectedly fell by 1.3% MoM, the federal statistics authority Destatis said in figures adjusted for seasonal and calendar effects, vs. a 0.5% rise expected and -0.8% last.

On an annualized basis, the German industrial production rose by 5.1% in June versus 11% expected and a 16.6% growth reported in May.

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