BERLIN, July 7 (Xinhua) -- German industrial production rose more than expected in May, driven by stronger output in the automotive sector despite concerns over higher energy prices due to tensions in the Middle East.
Industrial output increased by 0.9 percent in May from the previous month, the federal statistics office Destatis said on Tuesday. Economists polled by FactSet had expected a 0.3 increase.
Production in the automotive industry rose by 3.6 percent from April, while the output of machinery and equipment increased by 1.3 percent, Destatis said.
"The industrial sector is proving more resilient than many had expected despite the war in the Middle East and the sharp rise in energy prices," said Carsten Brzeski, global head of macro for ING Research. ■
