German Industrial Production jumps 1.4% MoM in June vs. 1.0% expected
FXStreetAug 7, 2024 6:02 AM
Germany’s industrial sector returned to expansion in June, the latest data published by Destatis showed on Wednesday.
Industrial output in the Eurozone’s top economy increased by 1.4% MoM, the federal statistics authority Destatis said in figures adjusted for seasonal and calendar effects, as against an expected increase of 1.0% and a 2.5% drop registered in May.
German Industrial Production slid at an annual rate of 4.1% in June versus May’s -6.7%.
EUR/USD reaction to the German Industrial Production data
Encouraging German industrial figures fails to move the needle around the Euro, as EUR/USD continues to hold lower ground near 1.0900. The pair is down 0.20% on the day, at the press time.
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