German industrial production disappoints in May

Industrial production in Germany contracted by 1.3 percent in May, government figures showed on Thursday, falling well short of expectations. Monthly data compiled by the economy ministry showed that output in the manufacturing sector declined by 1.8 and construction output shrank by 0.9 percent, while energy output increased by 3.9 percent. "Industrial production was weak in the middle of the second quarter," the ministry said in a statement, while noting that several long weekends and severe b