Germany’s manufacturing turnover increased for the second straight month in May, preliminary figures from Destatis showed Wednesday.
Manufacturing turnover rose a seasonally and working-day-adjusted 0.7 percent month-over-month in May, following a 1.3 percent increase in April, which was revised from a 1.2 percent rise estimated earlier.
Domestic turnover increased by 1.0 percent in May from the previous month and business with foreign customers moved up 0.5 percent.
Sales to non-euro area countries moved up 0.9 percent, while that to euro area countries remained the same level as in April.
On an annual basis, manufacturing turnover grew at a faster pace of 4.4 percent in May, following a 2.1 percent increase in the prior month. In March, turnover rose 0.8 percent.
In the January to May period, total manufacturing turnover expanded a working-day-adjusted 1.8 percent compared with the corresponding period last year.
The material has been provided by InstaForex Company – www.instaforex.com