German industrial output rose in July for the first time in three months, signaling a turnaround in the struggling manufacturing sector in Q3.

According to the Zhitong Finance APP, industrial output in Germany in July exceeded expectations, indicating that the key economic sector of the country may be stabilizing and is likely to soon shake off the downturn that has persisted for several years. Data released by the German Federal Statistical Office (Destatis) on Monday showed that industrial output in Germany grew by 1.3% month-on-month in July, driven by the machinery industry. This is the first growth since March of this year and higher than the median expectation of 1% in the Bloomberg survey.