Eurozone’s Industrial Production in Germany showed a bigger-than-expected drop in June, the official data published by Eurostat showed on Thursday, suggesting that the recovery in the manufacturing sector is faltering
The industrial output in the bloc arrived at -0.3% MoM vs. a 0.2% drop expected and -1.1% last.
On an annualized basis, the industrial output rose by 9.7% in June versus a 10.4% increase expected and May’s 20.6%.
FX implications
The shared currency remains better bid tone downbeat industrial figures, unperturbed by the data.
At the time of writing, EUR/USD gains 0.06% on the day to now trade at 1.1743, with the upside still capped below 1.1750 ahead of the US PPI and Jobless Claims data.
About Eurozone Industrial Production
Industrial Production is released by Eurostat. It shows the volume of production of Industries such as factories and manufacturing. Uptrend is regarded as inflationary which may anticipate interest rates to rise. Usually, if high industrial production growth comes out, this may generate a positive sentiment (or bullish) for the EUR, while low industrial production is seen as a negative sentiment (or bearish).
