German Industrial Output Rise 0.2% in May but Miss Expectations

Industrial production in Germany climbed less than estimated in May as supply chain bottlenecks deteriorated owing to the crisis in Ukraine and Covid lockdowns in China, the official data released on Thursday.

According to Destatis, the national statistics agency, industrial output, which includes manufacturing, energy, and construction, rose 0.2% in May from April.

The consensus among economists was looking for a 0.3% increase. The initial estimate for industrial production in April was 0.7%; this has been revised up to 1.3%.

On an annual basis, industrial output declined 1.5% in May.