May 06, 2022 - 02:16 PM 277 views
The official data displayed on Friday showed that the manufacturing
sector activity is slowly shrinking. As a result, industrial production in
Germany in the month of March has decreased more than anticipated.
The industrial output of the Euro zone’s economy jumped by 3.9% MoM.
Hence, the federal statistics authority, Destatis, said that data is modified
for seasonal and calendar effects. The expected one is-1.0%, whereas the last
seen one was at 0.2%.
But, on an annual basis, German industrial production collapsed by 3.5%
in March, but in the February month, the growth registered as 3.1%.
With the despairing German industrial figures, the common currency is
currently trading below 1.0520. The EUR/USD pair is trading at 1.0521, which is
down by 0.19% in a day.
Synopsis of German Industrial Production
The Statistisches Bundesamt Deutschland estimates the outputs of the
German factories and mines. The alterations in German industrial production
must be widely implemented, which is the key indicator of the strength of the
manufacturing sector. The high reading indicates positive or bullish, whereas
the low reading indicates negative or bearish.