"The upswing is alive, but it has passed its peak," Bankhaus Lampe economist Alexander Krueger said, pointing to external risks such as protectionist moves by U.S. President Donald Trump. The Economy Ministry said industrial output was likely to rise moderately in coming months. The rise in May was mainly driven by demand from other euro zone countries and domestic clients. A breakdown of the figures showed that orders for capital goods and consumer goods jumped the most.