German Industry Output Rises as Factories Shrug Off Brexit Woes
- Production expanded 0.8% versus estimated 0.7% increase
- Factory orders unexpectedly slid in June, data showed Friday
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German industrial production increased in June, signaling that Europe’s largest economy gained momentum ahead of the U.K.’s Brexit vote.
Production, adjusted for seasonal swings, rose 0.8 percent from the previous month, when it dropped a revised 0.9 percent, data from the Economy Ministry in Berlin showed on Monday. The reading, which is typically volatile, compared with a median estimate for a 0.7 percent gain in a Bloomberg survey. Output was up 0.5 percent from a year earlier.