In March, German industrial production fell 3.9 percent MoM, vs a forecast of -1.0 percent.

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.

May 06, 2022 - 02:16 PM 277 views

In March, German industrial production fell 3.9 percent MoM, vs a forecast of -1.0 percent.

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© In March, German industrial production fell 3.9 percent MoM, vs a forecast of -1.0 percent.

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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%.

FX Implications

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.

A 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.

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