German industrial production increases

Frankfurt

German industrial production increased in July, but fell short of analysts’ expectations, the economy ministry said yesterday.

The ministry calculated that factory output rose by 0.7 per cent in July compared with a month earlier, corrected for seasonal factors.Analysts polled by financial services firm FactSet had pencilled in a bigger increase of 1.1pc following a contraction of 0.9pc in June. Manufacturing output increased by 0.3pc month-on-month, but energy output rose by 1.9pc and construction output was up by 3.2pc.