Industrial Production in Germany increased in March, the official data showed on Friday, suggesting that the recovery in the manufacturing sector is gaining momentum.
The industrial output rose by 2.5% MoM, the federal statistics authority Destatis said in figures adjusted for seasonal and calendar effects, vs. a 2.3% rise expected and -1.9% last.
On an annualized basis, the German industrial production jumped by 5.1% in March versus a -6.8% drop recorded in February.
Separately, the German Current Account data came in at EUR30.2B in March vs. EUR18.8B prior. Meanwhile, the Trade Surplus narrowed to EUR14.3B vs. EUR18.9B last.
FX implications
The shared currency remains uninspired by a big beat on the German industrial figures.
At the time of writing, EUR/USD trades flat at 1.2060, off the highs.
About German Industrial Production
The Industrial Production released by the Statistisches Bundesamt Deutschland measures outputs of the 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).
