German Industrial Production Rises Unexpectedly

(RTTNews) - Germany's industrial production increased unexpectedly in May, figures from Destatis revealed on Monday.

Industrial production grew 1.2 percent from a month ago, confounding expectations for a decline of 0.6 percent.

Output in April was revised down to show a 1.6 percent fall compared to the 1.4 percent drop estimated initially.

On a yearly basis, industrial production expanded 1.0 percent, in contrast to the 2.1 percent decrease seen in April.

Excluding energy and construction, industrial production climbed 1.4 percent.

Production of capital goods moved up 4.1 percent and that of consumer goods gained 0.5 percent. Meanwhile, intermediate goods output declined 2.1 percent.