Industrial production in Germany increased in Novemberaccording to official data released on Monday, suggesting that the manufacturing sector is showing some signs of recovery.
The industrial production of the economic powerhouse of the eurozone increased 0.2% m/mas reported by the federal statistical authority Destatis in figures adjusted for seasonal and calendar purposes, vs 0.1% expected and -0.1% prior.
In annualized terms, German industrial production stood at -0.4% in Novembercompared to 0% in October and the 1.3% estimated by the markets.
Repercussions in the foreign exchange market
The common currency pays little attention to the mixed figures of German industry. At time of writing, the EUR/USD pair is trading around 1.0685, up 0.40% on the day.
About German industrial production
Industrial production, published by the Statistisches Bundesamt Deutschland, measures the production of German mines and factories. Changes in industrial production are closely watched by the market as an important indicator of the strength of the manufacturing sector. A higher reading than anticipated by experts is bullish for the euro, while a lower result is bearish.
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.
