German Industrial Production rebounds 2% MoM in January vs. 1.5% expected

Germany’s industrial sector witnessed an impressive upturn in January, according to the latest data published by Destatis on Monday.

In the Eurozone’s economic powerhouse, Industrial Output jumped 2% MoM, the federal statistics authority Destatis said in figures adjusted for seasonal and calendar effects, against the anticipated 1.5% advance and a 2.4% decline in December.

German Industrial Production dropped 1.6% year-over-year (YoY) in January versus December’s -2.2% revision.

Separately, Germany’s Trade Balance for January came in at EUR16 billion versus EUR21 billion expected and EUR20.7 billion previous.

EUR/USD reaction to the German Industrial Production data