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FILE PHOTO: A worker at the Volkswagen assembly line in Wolfsburg, Germany, April 27, 2020. Swen Pfoertner/Pool via REUTERS/File Photo Image used for illustrative purpose.
German industrial production rose slightly less than expected in April, posting an increase thanks to the construction sector and the strong performance of pharmaceutical products.
Production increased by 0.3% on the previous month, the federal statistical office said on Wednesday. In a Reuters poll, analysts had pointed to an increase of 0.6%. The statistics office also revised the figure for March to a 2.1% decrease from a provisional figure of a 3.4% fall.
Despite the increase in production in April, the weakness of new orders paints a bleak picture for industry in the coming months. Industrial orders fell by 0.4% in April on the month.
The office offers more detailed data on its website. (Reporting by Anastasiia Kozlova and Maria Martinez Editing by Miranda Murray)