German Industrial Production drops 2.5% MoM in May vs. 0.2% expected

Dhwani Mehta FXStreet

Germany’s industrial sector contraction deepened in May, the latest data published by Destatis showed on Friday.

Industrial output in the Eurozone’s top economy dropped by 2.5% MoM, the federal statistics authority Destatis said in figures adjusted for seasonal and calendar effects, compared with a 0.2% forecast and a 0.1% decline in April.

German Industrial Production plunged at an annual rate of 6.7% in May versus the April slump of 3.9%.

EUR/USD reaction to the German Industrial Production data

The downbeat German industrial figures fails to have any impact on the Euro, as EUR/USD continues to hold higher ground near 1.0820. The pair is up 0.12% 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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