German Industrial Production jumps 2.9% MoM in August vs. 0.8% expected
|Germany’s industrial sector quickened its pace of expansion in August, the latest data published by Destatis showed on Tuesday.
Industrial output in the Eurozone’s economic powerhouse rose 2.9% MoM, the federal statistics authority Destatis said in figures adjusted for seasonal and calendar effects, compared to the expected increase of 0.8% and a -2.4% drop reported in July.
German Industrial Production declined by 2.7% in the year through August versus July’s -5.3%.
EUR/USD reaction to the German Industrial Production data
The improvement in the German industrial sector fails to offer a fresh boost to Euro buyers, as EUR/USD continues to hold higher ground near 1.0985. The pair is up 0.10% on the day, at the press time.
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