German industrial production resumes rise for fifth month

German industrial production resumes rise for fifth month

German industrial production resumed rise for a fifth consecutive month in May, reflecting the strength of growth in Europe’s biggest economy.

Industrial output soared 1.2 percent in May, following a revised 0.7 percent increase in April, surpassing analysts’ projections of 0.2 percent surge. That was the fifth straight monthly gain. From a year earlier, output was 5 percent higher.

Data released on Thursday showed that Germany’s factory orders advanced 1.0 percent in May.

“The strong dynamic in orders at the end of 2016 has translated into brisk expansion of output since the start of the year,” the Economy Ministry said in a statement.

As of 09:47 GMT, the inched higher to 1.1418 versus the U.S. dollar, after doing a solid rebound the previous session.

Ahmed Mamdouh

Ahmed Mamdouh, Co-Founder and Head of English Fundamental Analysis at FXComment.com, with 7 years of experience in the financial markets. Mamdouh holds a Master’s Degree in Economics from The American University in Cairo and a Bachelor Degree in Economics from The Faculty of Economics and Political Science, Cairo University.

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