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Industrial production in Germany remained unchanged in July

The July value for German industrial production remained unchanged on a monthly basis, which may indicate the presence of an upward impulse in the industrial sector of the country. This happened against a background of a strong decline in energy production, which exceeded positive data on activity in the manufacturing and construction sectors. Experts assumed that the indicator will grow within 0.5%. These data were published without recounting, corrected for seasonal and calendar factors.

In the period from January to May this year, there was an increase in the upward momentum in the industrial production of the country, but by the end of the first half of the year it began to fade. In the Ministry of Economy, taking into account the data on the orders of enterprises, noted that the growth rate of activity is likely to be less than observed in the first half of the year.

According to the official report, orders in the manufacturing sector were reduced within 0.7% in the considered reporting period on a monthly basis, while industrial production in general grew by 4.0% year-on-year.