German Industrial Production Increases in April, But Growth Slightly Less Than Expected
Overview
German industrial production increased in April, supported by the construction sector and strong performance in pharmaceuticals, but growth was slightly less than expected.
Manufacturing Increase
The Federal Statistical Office said on Wednesday that manufacturing increased 0.3% from the previous month, while analysts had expected a 0.6% increase in a Reuters survey.
Revised March Data
The Bureau revised March data down 2.1% from a 3.4% drop reported in preliminary data.
Weak New Orders
Despite production picking up in April, weak new orders paint a bleak picture for the industry in the coming months, as industrial orders fell 0.4% on a monthly basis in April.
