- Analytics
- News and Tools
- Market News
- German Industrial Production unexpectedly drops by 1.1% MoM in September
German Industrial Production unexpectedly drops by 1.1% MoM in September
Industrial Production in Germany showed an unexpected decline in September, the official data showed on Friday, suggesting that the recovery in the manufacturing sector is dwindling.
Eurozone’s economic powerhouse’s industrial output drops by 1.1% MoM, the federal statistics authority Destatis said in figures adjusted for seasonal and calendar effects, vs. a 1.0% rise expected and -4.0% last.
On an annualized basis, the German industrial production fell by 1.0% in September versus -8.0% expected and a 1.7% growth registered in August.
FX implications
The shared currency is picking up some strength despite the mixed German industrial figures.
At the time of writing, EUR/USD is trading at 1.1558, up 0.06% on the day, awaiting the US NFP data.
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).
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
