Germany May industrial production +7.8% vs +11.1% m/m expected
Latest data released by Destatis - 7 July 2020
- Prior -17.9%
- Industrial production WDA -19.3% vs -16.9% y/y expected
- Prior -25.3%
Slight delay in the release by the source. Factory output improved in the month of May relative to April as lockdown restrictions were slowly lifted, but the rebound isn't as impressive as estimated and overall conditions are still largely subdued.
The annual reading offers a better glimpse of the situation, with industrial output still hinting at a near 20% decline relative to conditions from a year ago.