German exports, industrial production up slightly in May

Business

BERLIN (AP) — German exports and industrial production picked up slightly in May, staging a very modest recovery after the previous month’s disappointing data.

Official statistics released Monday showed that exports were up 1.1% on the month after dropping 3.4% in April. Industrial production rose 0.3% after a 2% fall in April.

Both figures were roughly in line with economists’ forecasts. They followed data on Friday showing that factory orders in Europe’s biggest economy dropped 2.2% in May.

Germany’s economy was already expected to turn in a feeble performance in the second quarter after returning to growth in the winter. ING economist Carsten Brzeski said that “the fact that German industry has not fallen off a cliff unfortunately does not mean that any rebound is in the cards in the near term.”

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