German Industrial Output Recovers 1.3%

(RTTNews) - Germany's industrial output expanded for the first time in four months in July, figures from Destatis showed on Monday.

Industrial production rose 1.3 percent month-on-month in July, reversing June's stable decrease of 0.1 percent.

The recovery in July was mainly driven by a 9.5 percent growth in the manufacture of machinery and equipment. An 8.5 percent expansion in the pharmaceutical industry also had a positive impact, while a negative contribution of 4.5 percent came from energy production.

Excluding energy and construction, production in industry was 2.2 percent higher in July compared to the previous month.

On a yearly basis, industrial output rebounded 1.5 percent in July versus a 4.3 percent fall in June.