fxs_header_sponsor_anchor

News

German Industrial Production drops 0.3% MoM in July vs. 0.4% expected

Industrial Production in Germany dropped in July, the official data showed on Friday, suggesting that the manufacturing sector activity is fading its recovery.

Eurozone’s economic powerhouse’s industrial output fell by 0.3% MoM, the federal statistics authority Destatis said in figures adjusted for seasonal and calendar effects, vs. a -0.4% expected and 0.8% last.

On an annualized basis, German industrial production fell by 1.1% in July versus a -0.5% drop booked previously.

FX implications

The shared currency remains pressured below 0.9900 on the downbeat German industrial figures.

At the time of writing, EUR/USD is trading at 0.9889, down 0.12% on the day.

About German Industrial Production

The Industrial Production released by the Statistisches Bundesamt Deutschland measures the outputs of the German factories and mines. Changes in industrial production are widely followed as a major indicator of strength in the manufacturing sector. A high reading is seen as positive (or bullish) for the EUR, whereas a low reading is seen as negative (or bearish).

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.