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