German economy set for modest growth with industrial output up
Berlin — The German economy is set for modest growth in the second quarter after industrial output edged up and job vacancies hit a record high, underlining labour market strength that is fuelling a consumer-led upswing. Europe’s biggest economy saw vacancies surge by 25,000 on the quarter and 115,000 on the year to reach 1.21-million in the April to June period, a survey by the IAB labour office research institute found. Asked for the main reasons complicating recruitment, most employers pointed to a shortage of applicants and insufficient job qualifications. Separate data on Tuesday from the country’s economy ministry showed industrial output rose 0.4% on the quarter in the April to June period despite a weaker-than-expected reading for June. That release followed data on Monday that showed German industrial orders dropped in June by the most in nearly one-and-a-half years, suggesting that trade tensions caused by US President Donald Trump could limit growth. "June’s industrial pr...
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