Berlin, Jul 8 (AP/UNB) — 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."