German Industrial Production rises by 2.7% MoM in January, a big beat
|Industrial Production in Germany jumped more than expected in January, the official data showed on Tuesday, suggesting that the manufacturing sector recovery is gathering steam.
Eurozone’s economic powerhouse’s industrial output climbed by 2.7% MoM, the federal statistics authority Destatis said in figures adjusted for seasonal and calendar effects, vs. a 0.5% increase expected and 1.1% last.
On an annualized basis, the German industrial production dropped by 1.8% in January versus a 2.7% drop registered in December. Markets expected the industrial output to rebound sharply by 4.2% in the reported month.
FX implications
The shared currency is pressurizing lows near 1.0850 on the mixed German industrial figures.
At the time of writing, EUR/USD is trading at 1.0853, modestly flat on the day.
About German Industrial Production
The Industrial Production released by the Statistisches Bundesamt Deutschland measures outputs of the German factories and mines. Changes in industrial production are widely followed as a major indicator of strength in the manufacturing sector. A high reading is seen as positive (or bullish) for the EUR, whereas a low reading is seen as negative (or bearish).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.