German industrial production rebounded less than expected in May

The statistics office said today that German industrial production increased by 7.8% during the month of May, which is less than expected, after it fell by 17.5% in April, and analysts had expected German industrial production to increase by 10% in May.

On an annual basis, industrial production in Germany decreased by 19.3% during the twelve months to May, compared to the same period last year, compared to a decline of 25% during the twelve months to April.

Capital goods production increased by 27.6% in May and orders for industrial goods rose 10.4% in May, and the government expects the economy to contract by 6.3% this year, the worst recession the country has seen since World War II.