German Industrial Production rises 0.2% MoM in June, beats 0.1% estimates

Sagar Dua FXStreet

Germany’s Industrial Production rises 0.2% Month-on-Month (MoM) in June, the latest data published by Destatis showed on Friday. The growth was faster than the 0.1% estimate, but slower than the previous reading of 0.7%, revised lower from 0.9%.

Industrial sector activity, in the Eurozone’s economic powerhouse, fell by 0.1% Year-on-Year (YoY) in June, the federal statistics authority Destatis said in figures adjusted for seasonal and calendar effects, after remaining flat in May.

Market reaction

A mild selling pressure is seen in the Euro (EUR) following the German Industrial Production data release. At press time, EUR/USD edges down to near 1.1520.

Economic Indicator

Industrial Production s.a. (MoM)

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).

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