German industrial production and exports continued to increase in June compared to the previous month. This is how the recovery started earlier continues. Previously there was an unprecedented contraction, as a result of coronam measures leading to factory closures and a significant decline in World Trade.
In June, according to new figures from the German statistical office, industrial production rose by 8.9 per cent compared to May. Compared to the same month a year earlier, there was still a strong contraction, with 11.7%. Economists had more or less anticipated this development. For industry in general, they assumed a plus of 8.2 per cent on a monthly basis and a contraction of 11.4 per cent on an annual basis.
German exports improved by 14.9% in June. That’s a little stronger than expected. Here, experts estimated an increase of 14.4 per cent on average.
Abaigael Schlomski is an accomplished economist and financial journalist with over a decade of experience in the industry. He is a regular contributor to EconomicInform, where he provides in-depth analysis and expert commentary on the latest economic trends and events. With a keen understanding of the financial markets and a talent for breaking down complex economic concepts for a general audience, Maurice is a trusted and respected voice in the field.