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German industrial production jumped 1.9% in July | German industrial production jumped 1.9% in July |
(35 minutes later) | |
German industry has posted its strongest month in almost two and a half years. | German industry has posted its strongest month in almost two and a half years. |
The Economy Ministry said industrial production was up 1.9% in July, lifted by an increase in manufacturing and construction output. | The Economy Ministry said industrial production was up 1.9% in July, lifted by an increase in manufacturing and construction output. |
It is a big improvement from June when industrial production rose just 0.4%. | It is a big improvement from June when industrial production rose just 0.4%. |
It is another piece of strong data from Germany. On Thursday data showed that industrial orders rose at the strongest rate in the more than a year in July. | It is another piece of strong data from Germany. On Thursday data showed that industrial orders rose at the strongest rate in the more than a year in July. |
However last month the ministry released figures to show the economy shrank by 0.2% in the second quarter. | |
In an effort to avoid further stagnation in Europe, on Thursday the European Central Bank announced a surprise cut in interest rates. | |
It also launched a programme to buy private sector debt to stimulate lending. |
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