German Industrial Output Beats Forecasts, Lifting DAX Futures
Germany's industrial production rose for a second straight month, easing fears of a deeper manufacturing slump in Europe's largest economy.
German industrial output rose 0.8% in June from the previous month, comfortably beating economists' forecast of a 0.2% increase, in a rare piece of good news for a manufacturing sector that has struggled for much of the past two years.
The gain was led by the automotive and chemicals sectors, both of which had been among the hardest hit by weak export demand and high energy costs. DAX futures rose in early trading following the release.
Still, analysts cautioned against reading too much into a single month of data, noting that order books remain thin and that a sustained recovery would likely depend on stronger demand from China and the rest of the eurozone.
Elena covers macroeconomic data and policy across the eurozone, translating industrial output, inflation and growth figures into what they mean for markets.
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