German industrial production growth likely to have slowed in June

German Markit/BME manufacturing PMI slowed down slightly in July to 58.1 after reaching a series high of 59.6 in June 2017. The July print reversed a seven-month upward trend for the index. But, the index stayed solid and continued to indicate to a relatively solid German economy. The industrial production data is set to come out next week. According to consensus expectations, industrial production is expected to have grown 0.3 percent sequentially in June, a slowdown from May’s growth of 1.2 percent.

The trade and current account balances for June will also be released next week. Evidently, one of the reasons for the improved economy has been an improved export market for German production so the international trade figures would also help validate the improvement in economic activity, stated Wells Fargo in a research report.

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