German industrial production unexpectedly dropped by 1.1% on a monthly basis in June after growing by 1.2% in May, the Economy Ministry of Germany said.
Analysts had expected output growth to come in at 0.2%.
Year-on-year, industrial production expanded by 2.4%, down from analysts’ forecasts of a 3.7% increase. That was the first drop after five months of growth.
Mining and manufacturing output declined by 1.1% in June. The production of capital goods slid by 1.9% and that of consumer goods fell by 0.7%. Energy production increased by 1.4%, while construction output fell by 1%.
Earlier it was reported that Germany's economy rose by 0.6% in the first quarter of this year compared with the fourth quarter of 2016, making the fastest pace of growth this year. The second-quarter gross domestic product data will be published on August 15.
