Economics
German Factory Output Surges as Growth Sees Long-Awaited Rebound
- Production gained 2.6% in May vs. estimated 0.3% increase
- Stronger numbers follow jump in factory orders, improving PMIs
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German industrial production picked up in May, signaling that the economy is beginning to stabilize after a stumble earlier in the year.
The 2.6 percent increase was the best in six months and far better than the 0.3 percent growth forecast by economists. It follows data Thursday showing a surge in factory orders in May, the first increase this year and one that prompted Commerzbank to respond: “Finally, some good news.”