German Industrial Production unexpectedly drops by 0.3% MoM in May

Industrial Production in Germany unexpectedly fell in May, the official data showed on Wednesday, suggesting that the recovery in the manufacturing sector is losing momentum.

Eurozone’s economic powerhouse’s industrial output dropped by 0.3% MoM, the federal statistics authority Destatis said in figures adjusted for seasonal and calendar effects, vs. a 0.5% rise expected and -1.0% last.

On an annualized basis, the German industrial production jumped by 17.3% in May versus 34.5% expected and a 27.6% growth reported in April.

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