German Industrial Production jumps 2.9% MoM in August vs. 0.8% expected

Dhwani Mehta FXStreet

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.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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