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Industrial production in Germany with weak growth in May

Industrial production in Germany increased by only 0.2% in May, below analysts’ estimates. Analysts had previously expected an increase of 0.4%, following growth of 1.3% in April.

According to the Federal Statistical Office, shortages of intermediate products and problems in the supply chain were the main reasons for the low growth.

Energy production fell particularly sharply by 5.8%, while the production of consumer and intermediate goods declined by 0.9%. By contrast, the production of capital goods rose by 2.2% and construction recorded a slight increase of 0.4%.

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