FX.co ★ Germany Industrial Production Falls More Than Expected

Germany's industrial production declined more than expected in May, figures from Destatis revealed on Friday.

Industrial production posted a monthly fall of 0.2 percent in May in contrast to the 0.3 percent increase in April. Output was forecast to drop 0.1 percent.

The decline was largely driven by the sharp 13.1 percent fall in output of pharmaceutical products. Meanwhile, motor vehicles, trailers and semi-trailers logged a monthly growth of 4.9 percent.

Excluding energy and construction, industrial production gained 0.2 percent, data showed.

On a yearly basis, industrial production grew 0.7 percent, following a 1.7 percent rise in April.