German industrial production rose at the fastest pace in nearly 16 years in May, official data showed on Wednesday, bolstering hopes Europe’s biggest economy may be starting to recover from a deep recession.
The rise was largely due to a jump in car sales, prompted by a government scheme, but analysts said even with that stripped out the figures were strong.
Industrial output rose by 3.7 percent on the month in May. A Reuters poll had pointed to a rise of 0.5 percent after a fall in April. May’s rise was the strongest gain since August 1993, when output climbed 4.1 percent, Bundesbank data showed.
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