German Industrial Production unexpectedly rises by 0.3% MoM in Feb, EUR/USD keeps gains


  • German Industrial Production rises by 0.3% MoM in February.
  • Annualized German Industrial Production dropped by 1.2% in February.

Industrial Production in Germany unexpectedly increased in February, the official data showed on Tuesday; confirming that the manufacturing recession in Europe's largest economy is slowing its pace.

The industrial output came in at 0.3% MoM, the federal statistics authority Destatis said in figures adjusted for seasonal and calendar effects, vs. a 0.9% drop expected and +3.0% last.

On an annualized basis, the German industrial production arrived at -1.2% in February versus -3.9% expected and -1.3% booked in January.

Just ahead of the industrial figures, the German IFO institute said that its index for industrial production expectations took a dive in March. The index slipped from +2.0 to -20.8.

Further comments

This is the most drastic slump since the survey began in 1991.

Assumes that this development is still somewhat underestimated as well.

Considering that most of the survey responses were received by mid-March.

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).

FX Implications

The shared currency failed to cheer the upbeat German industrial figures, keeping EUR/USD in a familiar range around 1.0830. The spot hit a new two-day high at 1.0841 before the data release, as the greenback eased across the board amid risk-on.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!


Latest Forex News

Editors’ Picks

AUD/USD: Stellar performance refreshes 18-week top above 0.6800, RBA eyed

Having dominated the markets at the week’s start, AUD/USD bulls keep the reins around 0.6810, high of 0.6814, at the beginning of Tuesday’s Asian session. RBA is widely anticipated to keep the current monetary policy unchanged.

AUD/USD News

USD/JPY looks for a firm direction above 107.00 with eyes on US civil unrest

USD/JPY fails to extend the previous day’s losses amid fresh challenges to risk. The yen pair dropped the previous day amid broad US dollar weakness. A lack of data from Japan keeps traders focused on the geopolitical issues for fresh impulse.

USD/JPY News

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Pointing beyond the Moon

XRP remains on the sidelines, although it could join the bullish run. The crypto market is starting to remind us of times gone by, with dazzling rises across the crypto board that draw the public's attention.

Read more

Gold: Bulls cheer immediate rising channel, aim for $1,753

Gold prices print four-day winning streak to probe $1,740. A four-day-old ascending trend channel formation and sustained trading above 200-HMA keeps buyers hopeful. $1,710 offers key support ahead of Wednesday’s low.

Gold News

WTI trading near session’s lows around $34.80 a barrel

Crude oil is trading near session’s lows as WTI is trading above the main SMAs on the four-hour chart. However, as the black gold remains fragile in a dominant downtrend, it remains to be seen if WTI can regain the 36.00 resistance. 

Oil News

Forex MAJORS

Cryptocurrencies

Signatures