German industrial production increased in July, signaling that Europe’s largest economy is weathering the headwinds of slowing global growth. Output, adjusted for seasonal swings and inflation, rose 0.7% after dropping a revised 0.9% in June, data from the Economy Ministry in Berlin showed on Monday. The typically volatile number compares with a median estimate of a 1.1% gain in a Bloomberg survey. Industrial production advanced 0.5% from a year earlier. German manufacturers are benefiting from rising domestic demand and continued expansion in the euro area even as China’s slowdown drags on global growth.
