Industrial production in Germany showed a strong rebound in Februaryofficial data showed on Friday, suggesting that the recovery in the manufacturing sector may have regained traction.
Industrial production reached 3.6% month-on-monthsaid the federal statistical authority Destatis in figures adjusted for seasonal and calendar effects, versus an expected 2.4% increase and from -3.5% of the previous month.
On an annualized basis, German industrial production plummeted -6.4% in February compared to a drop of -4.0% registered in January.
About industrial production
Industrial production published by the Statistisches Bundesamt Deutschland measures the production of German mines and factories. Changes in industrial production are closely followed by the market as an important indicator of the strength of the manufacturing sector. A reading higher than anticipated by experts is bullish for the euro, while a lower result is bearish.
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