Germany’s May production rises 1.2% from April – ministry
07 July 2011 16:12 [Source: ICIS news]
LONDON (ICIS)--?xml:namespace>Germany’s overall production rose 1.2% in May from April, rebounding after a revised 0.8% decline in April from March, the country’s economics ministry said on Thursday.By: Stefan Baumgarten+1 713 525 2653
The ministry said production in Europe’s largest economy remains on an upward trend. However, given moderate increases in new orders, the pace of the expansion will likely take a “calmer course” in coming months, it added.
Industrial production rose 1.2% in May from April, while building and construction rose 1.1%.
On a two-month sequential comparison – April/May from February/March – overall production was up 0.4%.
Compared with April and May 2010, production was up 8.5% year on year.
Meanwhile, in Germany’s chemicals industry, 2011 production is expected to increase by 5.0% year on year, according to the latest forecast by Frankfurt-based chemical trade group VCI.
Overall, Germany’s economy is expected to grow 3.1% from 2010.
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