The industrial production in Germany decreased more than expected in Marchofficial data showed on Friday, suggesting that activity in the manufacturing sector is contracting sharply.
Industrial production in the eurozone’s biggest economic power plummeted 3.9% mom, according to Destatis, compared to -1.0% expected and +0.2% previously. This is the first drop seen in six months and the steepest since August 2021.
On an annualized basis, German industrial production fell 3.5% in March compared to 3.1% growth in February. This is the first drop in three months and the strongest since February 2021.
market reaction
The shared currency remains lower near 1.0520 after bearish German industrial data.
At the time of writing, EUR/USD is trading above 1.0521, down 0.19% daily.
Source: Fx Street
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