German Industrial Production drops 1.0% MoM in October vs. +1.2% expected
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Germany’s industrial sector extended its downtrend in October, according to the latest data published by Destatis on Friday.
In the Eurozone’s economic powerhouse, industrial output dropped by 1.0% MoM, the federal statistics authority Destatis said in figures adjusted for seasonal and calendar effects, compared to the expected 1.2% rebound and a revised 2.0% decline in September.
German Industrial Production tumbled by 4.5% year-on-year (YoY) in October versus September’s -4.3% revision.
EUR/USD reaction to the German Industrial Production data
The downbeat German data have little to no impact on the Euro, as EUR/USD holds near 1.0570, down 0.15% on the day, at the press time.
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