Economics
German Industry Rebounds From Virus Nadir Facing Long Road Ahead
- Output rose 7.8%, less than 11.1% gain expected by economists
- Economy Ministry says capacity still markedly underutilized
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German industrial production rose less than analysts expected in May, underscoring the challenge faced by Europe’s economy as it emerges from months-long coronavirus lockdowns.
Output gained 7.8% in the month when Germany lifted most restrictions to stop the spread of the virus, compared with an estimate of 11.1%. The increase follows a record-hit to activity in April, which was caused by factory closures and other disruptions.