German Industrial Production Rebounds 7.8% MoM in May

Official data coming from Germany on Tuesday showed that industrial production rebounded less than expected in May, despite confirming that the manufacturing sector in the largest European economy is gradually recovering from the recession resulting from the closure measures.

Industrial output posted + 7.8% MoM, the Federal Statistics Authority Destatis said in adjusted numbers for seasonal and calendar impacts, compared to an expected recovery of 10.0% and -17.9% in the past.

On an annual basis, German industrial production recorded -19.3% in May, compared to -11.1% expected and -25.3% in April.