Germany: Only a small minus for manufacturing in May
Economic Briefing
Germany: Only a small minus for manufacturing in May
In May, German industry cut production by 1% on the previous month. But since output had increased significantly in the two preceding months, the average over April and May was nearly 3% up on the first quarter, which leads us to expect a very large gain in GDP. However, this momentum is unlikely to continue in the third quarter.
Commerzbank Corporates & Markets
Economic Research
https://research.commerzbank.com
Germany: Only a small minus for manufacturing in May
In May, German industry cut production by 1% on the previous month. But since output had increased significantly in the two preceding months, the average over April and May was nearly 3% up on the first quarter, which leads us to expect a very large gain in GDP. However, this momentum is unlikely to continue in the third quarter.
Commerzbank Corporates & Markets
Economic Research
https://research.commerzbank.com
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