German Industrial Production Growth Takes a Breather in May

        By Nina Adam
        FRANKFURT--German industrial production was flat in May, as expected, as a robust rise in manufacturing was offset by a drop in construction output, official data showed Tuesday.
        But the uptrend in German industry remained intact, the economics ministry said, despite slack production in May and concerns about Greece's unresolved financial crisis.
        Industrial production, adjusted for inflation and seasonal swings, was unchanged in May from April, in line with forecasts in a Wall Street Journal survey of 27 economists.
        But "solid order books indicate a strong performance of Germany's industrial sector in the second half of this year," said Barclays economist Thomas Harjes, bolstering hopes that Europe's largest economy will help propel economic activity in the eurozone.
        Industrial production in May was spread unevenly across sectors, the data showed, as manufacturing output rose 0.4% from the preceding month, but construction output dropped 0.5%.
        Production volumes were up 2.1% from May last year, taking account of calendar effects. "The pickup in German industrial activity appears to be firming," the ministry said.
        Write to Nina Adam at nina.adam@wsj.com
        (END) Dow Jones Newswires

        July 07, 2015 02:26 ET (06:26 GMT)

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