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German economy continued to grow in May despite shrinking industry
The German economy continued to grow in May, albeit in stark contrast sandwiched between expansion in the service sector and declining industry. The business prospects on a year-to-date basis suffered a slight setback, falling to a 5-month low, and still increasing companies, the growth resulted from the processing of the order backlog. The job structure remained despite slight weakening but solid. The divergence between the two sectors was also underscored by the price action. While the increase in sales prices in industry almost stagnated due to the sharp fall in purchase prices, the asking prices in the service ... (full story)
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