Industrial Production in Germany increased in November, the official data showed on Monday, suggesting that the manufacturing sector is showing some signs of recovery.
Eurozone’s economic powerhouse’s Industrial Output rose by 0.2% MoM, the federal statistics authority Destatis said in figures adjusted for seasonal and calendar effects, vs. a 0.1% expected and -0.1% prior.
On an annualized basis, German Industrial Production arrived at -0.4% in November versus a 0% figure seen in October and 1.3% market estimates.
The shared currency pays little attention to the mixed German industrial figures. At the time of writing, EUR/USD is trading at around 1.0685, up 0.40% 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).