German industrial production disappoints in May

Volkswagen vehicles are seen in one of the twin car towers at the carmaker's factory in Wolfsburg, northern GermanyIndustrial production in Germany contracted more than expected in May, official data showed Thursday, suggesting that growth in Europe’s biggest economy is slowing, analysts said. According to regular monthly data compiled by the economy ministry, industrial output shrank by 1.3 percent in May, much more sharply than expected. Just a day earlier, economy ministry data had shown that factory orders stagnated in May.

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