German Industrial Production Rises 1.2% MoM

Industrial Production in Germany rose less-than-expected in July, the official data showed on Monday, suggesting that the recovery in the manufacturing sector probably lost steam.

The industrial output came in at +1.2% MoM, the federal statistics authority Destatis said in figures adjusted for seasonal and calendar effects, vs. a 4.8% increase expected and +9.3% last.

On an annualized basis, the German industrial production arrived at -10.4% in July versus +12.1% expected and -11.4% booked in June.