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7 August 2017
German factory production dropped unexpectedly in June but economists
say there are still good signs for longer-term growth. The Total Investment & Insurance Solutions
The Federal Statistical Office said Monday
that June industrial output was down 1.1 percent over the previous month with
drops in the production of capital, consumer and intermediate goods. Economists
had predicted a slight rise, but only energy sector production grew.
The drop followed a 1.2 percent rise in May,
and ING economist Carsten Brzeski notes that despite the disappointing June
numbers, production this year has been strong overall, and says there are
indications of a turnaround ahead. The
Total Investment & Insurance Solutions
He says "low inventories and stronger
new orders bode well for industrial production in the coming months,"
adding "the German economy is still on track to post another strong
quarter. "The Total Investment
& Insurance Solutions
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