German Industrial Production Bounces Back in June

German industrial production returned to growth in June after a surprise May contraction, preliminary official data showed on Monday. 
Industrial output grew by 0.8% in June compared with the previous month, figures adjusted for price, calendar and seasonal effects from the federal statistics office Destatis showed. 
It was a slightly weaker performance than expected, as analysts surveyed by Factset had predicted 0.9% growth. 
Growth in June meant a turnaround from May's unexpected 0.9% shrinkage, which Destatis on Monday revised down from the preliminary figure of 1.3%. 
Looking to individual sectors, manufacturing saw production growth of 1.5% while construction shrank by 0.5%. 
Overall, that contributed to a production decline of 1.0% over the second quarter, a result "largely traceable to delays due to bad weather in the construction sector," the economy ministry said in a statement. 
Meanwhile, the ministry predicted that "given the continuing development of new industrial orders, a moderate upwards trend is to be expected in the coming months".