Industrial production unexpectedly fell in Germany in Decemberofficial data showed on Monday, suggesting that the manufacturing sector is not out of the woods yet.
The industrial production of the economic power of the eurozone fell 0.3% momsaid the federal statistics authority Destatis in figures adjusted for seasonal and calendar effects, vs. an increase of 0.4% expected and -0.2% reported the previous month.
In annualized terms, German industrial production plunged 4.1% in December compared to a 2.2% drop recorded in November. The markets they expected industrial production to fall 2.4% in the reported month.
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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