The Federal Statistical Office (Destatis) reported that Germany's industrial production dropped 1.1 percent m-o-m in June after increasing 1.2 percent m-o-m in the prior month. Economists had forecast a 0.2 percent rise in June. That represented the first decline in the German industrial output since December 2016.

The major contributors to the June production fall were lower outputs of capital goods (-1.9 percent m-o-m), intermediate goods (-1.2 percent m-o-m), consumer goods (-0.7 percent m-o-m) as well as decreased construction output (-1 percent m-o-m). At the same time, energy production recorded an increase (-1.4 percent m-o-m).

Excluding energy and construction, production in the industry was down by 1.4 percent m-o-m in June.