Business News
German output jumps more than forecast in May
Jul 8, 2009, 10:23 GMT
Berlin - German industrial production jumped by a more-than-forecast 3.7 per cent in May, data the nation's Economics Ministry said Wednesday.
Economists had forecast the data would show output climbing by 0.5 per cent with the increase coming amid signs that the global recession is starting to loosen its grip on Europe's biggest economy.
The release of the latest output data followed the publication of figures Tuesday showing factory orders in the nation surging by 4.4 per cent in May.
But in announcing the latest output data, the ministry revised down the April fall in output to 2.6 per cent compared to a previously estimated drop of 1.9 per cent.
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