German Industrial Production drops 1.0% MoM in October vs. +1.2% expected

Dhwani Mehta FXStreet

Germany’s industrial sector extended its downtrend in October, according to the latest data published by Destatis on Friday.

In the Eurozone’s economic powerhouse, industrial output dropped by 1.0% MoM, the federal statistics authority Destatis said in figures adjusted for seasonal and calendar effects, compared to the expected 1.2% rebound and a revised 2.0% decline in September.

German Industrial Production tumbled by 4.5% year-on-year (YoY) in October versus September’s -4.3% revision.

EUR/USD reaction to the German Industrial Production data

The downbeat German data have little to no impact on the Euro, as EUR/USD holds near 1.0570, down 0.15% on the day, at the press time.

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.

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