Industrial Production in Germany showed no growth in December, the official data showed on Monday, suggesting that the recovery in the manufacturing sector is faltering
The industrial output arrived at 0% MoM, the federal statistics authority Destatis said in figures adjusted for seasonal and calendar effects, vs. a 0.3% rise expected and 0.9% last.
On an annualized basis, the German industrial production dropped by 1% in December versus -2.5% booked in November.
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).
The shared currency remains little affected by the dismal German industrial figures.
At the time of writing, EUR/USD trades neutral at 1.2039, with the upside attempts limited by the rally in the US Treasury yields amid relfation trades.
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