Germany’s April factory production rises in good sign for Q2
BERLIN – Industrial production in Germany, Europe’s largest economy, rose 0.8 per cent in April over the previous month in a positive sign for continued growth in the second quarter.
The Federal Statistical Office said Thursday the April rise followed the 0.1 per cent drop in March, according to figures adjusted for seasonal and calendar variations.
April’s increase was driven in particular by the production of energy and intermediate goods.
ING economist Carsten Brzeski said Germany’s strong labour market and higher wages are helping to drive increasing domestic demand, while the relative weakness of the euro is bolstering the country’s exports.
He says “the current German recovery remains unbreakable.”
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