Frankfurt / AFP German industrial production rebounded in June, official data showed, but analysts warned that the expansion won’t redeem a sluggish second quarter for Europe’s biggest economy. Industrial output posted growth of 0.8 percent in June compared with the previous month, preliminary data adjusted for price, calendar and seasonal effects from the federal statistics office Destatis showed. It …

  Brussels / AFP EU member states let Spain and Portugal off the hook on Tuesday, deciding against fines for their repeated breach of budget deficit rules meant to bolster growth and the public finances. EU Commissioner for Economic and Financial Affairs Pierre Moscovici said the decision reflected “an intelligent application” of the Stability and Growth Pact which sets the …

  London / AFP Retail sales surprisingly recovered in Britain during July as warmer weather offset widespread economic uncertainty triggered by the country’s vote to exit the European Union, a survey revealed on Tuesday. A joint survey by the British Retail Consortium (BRC) and financial group KPMG showed retail sales grew by 1.1 percent in July compared with a year …