German Industrial Production drops 0.4% MoM in October vs. 0.2% expected
|Germany’s Industrial Production extended its downtrend in October, the official data published by Destatis showed on Thursday.
Industrial output in the Eurozone’s economic powerhouse decreased by 0.4% MoM, the federal statistics authority Destatis said in figures adjusted for seasonal and calendar effects, vs. 0.2% expected and -1.3% seen in September.
On an annual basis, German Industrial Production declined 3.5% in October, compared with September’s 3.6% fall.
FX implications
The shared currency showed little reaction to the downbeat German industrial figures. The pair is trading modestly flat on the day at 1.0764, as of writing.
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