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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 earlier this week the ministry released figures to show the economy shrank by 0.2% in the second quarter. 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.