Eurozone Industrial Production jumps 0.7% MoM in February, meets estimates
Eurozone’s Industrial Production rebounded in February, the official data published by Eurostat showed on Wednesday, suggesting that the recovery in the manufacturing sector is regathering steam.
The industrial output in the bloc arrived at 0.7% MoM vs. a 0.7% increase expected and -0.7% last.
On an annualized basis, the industrial output rose by 2.0% in February versus a 1.5% rise expected and January’s -1.5%.
FX implications
The shared currency remains firmer on the upbeat industrial figures.
At the time of writing, EUR/USD gains 0.51% on the day to now trade at 1.0840, near fresh daily highs.
About Eurozone Industrial Production
Industrial Production is released by Eurostat. It shows the volume of production of Industries such as factories and manufacturing. Uptrend is regarded as inflationary which may anticipate interest rates to rise. Usually, if high industrial production growth comes out, this may generate a positive sentiment (or bullish) for the EUR, while low industrial production is seen as a negative sentiment (or bearish).
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
