German Industrial Production falls 1.5% MoM in June vs. -0.4% expected

Industrial Production in Germany fell more-than-expected in June, the official data showed on Monday, suggesting that the manufacturing sector activity is deteriorating.

Eurozone’s economic powerhouse’s Industrial Output dropped 1.5% MoM, the federal statistics authority Destatis said in figures adjusted for seasonal and calendar effects, vs. -0.4% expected and -0.2% previous.

The annual German Industrial Production declined by 1.7% in June versus a 0.7% advance seen in May.