The contraction in Germany’s industrial sector deepened in May, the latest data published by Destatis showed on Friday.
Industrial output in the eurozone’s largest economy fell 2.5 percent on the month, federal statistics authority Destatis said in seasonally and calendar-adjusted figures, compared with a forecast of 0.2 percent and a decline of 0.1 percent in April.
German industrial production fell by 6.7% in May compared with a 3.9% drop in April.
EUR/USD reaction to German industrial production data
Disappointing German industrial figures have no impact on the eurogiven that EUR/USD continues to hold higher ground near 1.0820. The pair is up 0.12% on the day at the time of writing.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
