Bundesbank: One-off Factors Boosted July Industrial Production

(RTTNews) - Bundesbank said German industrial production in July was largely influenced by the timing of school holidays.

Industrial output grew 1.9 percent in July, the most since March 2012. School holidays were concentrated in August this year, the bank said in its monthly report on Monday.

So the bank cautioned that a counter movement to July data is to be expected in August.

However, it said positive business climate mainly by the fact that the labor market that is still in a good condition, and consumers that have not adjusted their income expectations and consumption intentions despite a cloudier economic outlook, help to dispel fears of an abrupt end of the economic upward movement.