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German industry expects production to rise in coming three months - Ifo

FILE PHOTO: Steel rolls are pictured at the plant of German steel company Salzgitter AG in Salzgitter, Germany March 2, 2020. REUTERS/Fabian Bimmer/File Photo

BERLIN (Reuters) - Germany’s industrial sector, which was battered by a lockdown imposed to slow the spread of coronavirus, expects production to increase in the coming three months, the Ifo economic institute said on Friday.

“The industrial sector is continuing to work its way out of the trough in production,” Ifo economist Klaus Wohlrabe said after Ifo published a survey showing that the mood among industrial companies improved for a third straight month in July.

The Federal Statistics Office is due to publish data on industrial production in Europe’s largest economy in June at 0600 GMT. Economists polled by Reuters expect it to show output climbing by 8.1%.

Reporting by Michelle Martin; editing by Thomas Seythal

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