- Industrial Production in Germany misses estimates.
- Industrial output was at +1.2 Percent MoM in July against +4.8 Percent expected.
German Industrial Production in July fell short of expectations of a 4.8 Percent Increase in MoM figures. The official data released by the Statistisches Bundesamt Deutschland on Monday showed the monthly industrial output rose by 1.2 Percent in July compared to a gain of 9.3 Percent previous.
The figures track the changes in German factories and mines, and the industrial production numbers are used as a gauge of manufacturing sector strength. Euro usually gains with a better than expected reading, while disappointments are negative for the common currency.
On an annualized basis, the July numbers were at -10.4 Percent against an expectation of +12.1 Percent and from -11.4 Percent in June.
Euro hasn’t reacted much to the news, and the spot was trading down 0.06 Percent around 1.1830 dollars.
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