German Industrial Production Rebounds In May
BERLIN (AP) — Germany says its industrial production rebounded in May — growing 1.6 percent compared with the previous month.
The Economy Ministry said Friday the increase followed a sharp 2.1 percent drop in April. It revised that figure up slightly from its initial reading of a 2.2 percent fall.
The ministry says industrial production remains "stable so far" in Europe's largest economy, despite turbulence elsewhere in the debt-troubled 17-nation eurozone.
German industrial orders were up 0.6 percent on the month on May, largely thanks to higher orders from the eurozone, following a 1.4 percent decrease in April.
Germany's economy has continued to grow despite the troubles of other European countries, but the European debt crisis has started to weigh on business confidence.