German industrial production unexpectedly rose 1.2% in May from the previous month, rebounding from a revised 1.6% decline in April, the Federal Statistical Office said on Monday. Economists had anticipated little-to-no growth. Output was 1.0% higher than a year earlier, and the less-volatile three-month comparison showed a 1.4% increase versus the prior three-month period. The monthly gain was driven by a 10.8% surge in energy generation, a 10% rise in pharmaceutical output and a 4.9% increase in the automotive sector. Excluding energy and construction, production advanced 1.4%. Construction activity fell 3.9%, partly offsetting the broader improvement. Economists cautioned that the uptick may be supported by firms accelerating shipments ahead of possible higher U.S. tariffs and other trade frictions. ING’s Carsten Brzeski called the figures a sign of a ‘cyclical rebound’ but said it is too early to declare a sustained turnaround, citing risks from weaker orders, a stronger euro and low river levels that could hamper transport. Commerzbank’s Ralph Solveen noted that April and May output now sits slightly above the first-quarter average, raising hopes that the sector has passed its trough, even if broader economic growth remains subdued for now.
Ökonomen hatten mit einem Rückgang gerechnet, doch sie wurden widerlegt: Die Industrieunternehmen in Deutschland konnten ihre Produktion im Mai steigern.https://t.co/4Jn28FIrJi
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