German industrial production is expected to decrease slightly in May, by 0.2% MoM (3.4% YoY). The survey on the business climate in Germany highlights a less favourable climate for businesses compared with the beginning of the year, as well as less optimistic expectations. Industrial orders in May recorded a decline (-1.7% MoM) from both the domestic market (-2.5% MoM) and abroad (-1.2% MoM). The breakdown of the survey shows that orders for domestic consumer goods have decreased. The May decline is likely to prove temporary, and industrial output is likely to continue growing at a high level, thanks to the ... (full story)