Key facts
- Germany's industrial production fell by 1.5% in May compared to April.
- Economists had predicted a 0.5% increase.
- Manufacturing output decreased by 1.3%.
- Construction sector output dropped by 1.7%.
- Energy production saw a 1.1% increase.
Germany's industrial production experienced a setback in May, contracting by 1.5% from the previous month, according to data released by the Federal Statistical Office (Destatis). This figure fell short of market expectations, which had anticipated a modest increase of 0.5%.
The downturn was primarily driven by a significant decline in manufacturing output, which decreased by 1.3%. The construction sector also contributed to the overall contraction, with a drop of 1.7% in its output. However, energy production provided a slight counterbalance, showing an increase of 1.1%.