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Germany : Industrial Production  
Released On 9/7/2017 2:00:00 AM For Jul, 2017
Month over Month-1.1 %0.5 %0.0 %
Year over Year2.5 %4.0 %

Industrial production failed to rebound as expected in July. A flat performance versus June, when output declined an unrevised 1.1 percent, was well short of the market consensus although annual production growth still jumped a misleadingly large 1.5 percentage points to 4.0 percent courtesy of favourable base effects.

Weakness was most apparent in energy which posted a hefty 4.7 percent monthly fall and this was large enough to mask a modest 0.3 percent increase in the key manufacturing sector. Even so, capital goods compounded June's 1.5 percent decrease with a further 0.3 percent drop and consumer goods, down 0.7 percent last time, matched this decline. However, intermediates (1.4 percent) had a very solid month and construction (0.5 percent) also provided a boost.

Overall industrial production in July was 0.3 percent below its second quarter average while manufacturing was just 0.1 percent firmer. The sluggishness of the last two months contrasts with the very bullish picture painted by business surveys, notably the sector PMI. August looks likely to have been a much better period but it not, real GDP growth could disappoint this quarter as service sector activity has been lagging for a while.

Industrial production measures the physical output of the nation's factories, mines and utilities. Data are collected from companies in the sector with fifty or more employees and include mining and quarrying, manufacturing, energy and, in contrast to its Eurozone counterpart, construction.  Why Investors Care

2017 Release Schedule
Released On: 1/92/73/84/75/96/87/78/79/710/911/712/7
Release For: NovDecJanFebMarAprMayJunJulAugSepOct

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