Industrial Production in Germany declined in October, the official data showed on Wednesday, suggesting that the manufacturing sector remains vulnerable.
Eurozone’s economic powerhouse’s Industrial Output decreased by 0.1% MoM, the federal statistics authority Destatis said in figures adjusted for seasonal and calendar effects, vs. a -0.5% expected and 0.6% prior.
On an annualized basis, German Industrial Production arrived at 0% in October versus a 2.6% increase booked previously and 2.3% consensus forecasts.
The shared currency shrugs off mixed German industrial figures. At the time of writing, EUR/USD is trading at around 1.0450, down 0.13% on the day.
About German Industrial Production
The Industrial Production released by the Statistisches Bundesamt Deutschland measures the outputs of 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).