Industrial production in Germany rose more than expected in Februaryofficial data showed on Thursday, suggesting that activity in the manufacturing sector is on a gradual recovery.
The industrial production of the economic power of the eurozone rose 0.2% month-on-monthas reported by the federal statistics authority Destatis in figures adjusted for seasonal and calendar effects, vs. 0.0% expected and 1.4% registered the previous month.
In annualized terms, German industrial production rose 3.2% in February. compared to an increase of 1.1% registered in January.
Implications for the euro
The common currency remains on high ground and rises above 1.0920 after the optimistic German industrial figures.
At time of writing, the EUR/USD pair is trading at 1.0927, up 0.33% on the day.
About German industrial production
The 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 reading higher than expected by experts is bullish for the euro, while a lower result is bearish.
Source: Fx Street
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