World Economy
0

German Production Rebounds

German Production ReboundsGerman Production Rebounds

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.

Financialtribune.com